Question

Which of the following American companies had a monopoly in the late 1800s? A. Deere and Company B. Sears, Roebuck and Company C. Standard Oil Company D. General Electric Company

Answer 1

I believe it was the Standard Oil Company

Answer 2

Answer:

C. Standard Oil Company

Explanation:

The Standard Oil Company was an American corporate trust that not only achieved to control almost all oil production, but also to control almost all marketing, and transportation in the U.S. in the 1800s, becoming the first company to have a monopoly in America. By 1880, for example, the company had eliminated almost all of its competitors and gained control of approximately 90 percent of the oil refined in the U.S.

It was created in 1863 by the famous American business magnate John D. Rockefeller, who also became the country's first billionaire.