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8_murik_8 [283]
2 years ago
11

Why were monopolies bad for the economy and how did the rich take advantage?

History
1 answer:
pochemuha2 years ago
8 0

Answer:

Monopolies are bad for the economy because lack of competition allows a few to set prices, stagnate competition.

Explanation:

How did the rich take advantage:

The rich had ready capital to either buy out smaller competitors or drive them out with undercut prices until the competitor failed, then prices to consumer went back up even higher.

It happened in the early industrial revolution:  Rockefeller/Standard Oil,

Carnegie and JP Morgan= Steel industry

Still going on today, especially in the tech arena.

Able to manipulate what we buy, the way we think, etc.

We need to be responsible, situationally aware consumers.

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What did Shays' Rebellion demonstrate to the elite class and why were Shays and others mad?
maksim [4K]

Answer:

Shays’ Rebellion demonstrated the high degree of internal conflict lurking beneath the surface of post-Revolutionary life as for why they were mad was because the state government was making farmers pay high taxes. If they could not pay these taxes, they would be thrown in jail, and they could lose their farms. They asked the government to stop.

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What else was happening in the United States at this time to influence support for the Dawes Act?
olga55 [171]

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<h3>What was the Dawes Act?</h3>

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brainly.com/question/905111

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