Question

In your text, the authors state that "competition was the bogeyman of most business leaders" during the late nineteenth century. Based on what you have read (and what you have seen in the documentary), what do they mean by this? How did these business leaders respond to the "bogeyman of competition"?

Answer 1

Boogeyman represent fear.

Unlike in our current time,  there are only a handful of companies that established, which mean that competition is very little.

As soon as a company with similar market arose, many businessman in the past became worry about the continuity of their companies

hope this helps