Andrew Carnegie was the one who used vertical integration to control steel production.
Vertical integration involves:
- Owning all the companies in the supply chain of a good including the <u>producers to the retailers </u>
- Being able to reduce production costs as a single company owns the various stages of production
Andre Carnegie founded Carnegie Steel which he used to acquire the suppliers of steel all the way to the sellers.
This allowed him to control the steel industry as he could overcharge competitors for steel whilst maintaining lower prices for his company.
In conclusion, Andrew Carnegie was able to us vertical integration to control the steel industry in a monopolistic like manner.
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Answer:
A lot of people invested in the stock market in the 1920s because they could buy stocks 'on the margin', and hence, required little initial capital. ... This easy access to borrowing, fueled a growth in stock market investment, which eventually created a bubble and completely collapsed.
Explanation:
Answer:
Original Sin caused the relationship between God and human beings to be deprived of original holiness and justice. God created a covenant with all humans, saying that he would send his one and only son to save them from original sin.
