Answer:
Carnegie introduced the Bessemer process, which decreased the cost of production. ... Carnegie could cut his costs because he owned the supply of raw materials and the means of production and distribution.
There are two necessities for an industry to be competitive, first for an industry to be competitive, the industry must have numerous producers that does not have a large market share, second, an industry can be considered competitive if its consumers regard the products of the producers as equivalent.
known as the Congo Conference or West Africa Conference, regulated European colonization and trade in Africa during the New Imperialism period and coincided with Germany's sudden emergence as an imperial power.
