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3 years ago

Which statement best describes an attitude shared by John D. Rockefeller, Andrew Carnegie, and J. P. Morgan?

History

1 answer:

jolli1 [7]3 years ago

7 0

The available options are:

(1) Economic competition is inefficient and wasteful.

(2) Strong labor unions are essential to the health of the economy.

(3) Natural resources belong to all citizens and should not be used for private gain.

(4) Concentrating economic power in the hands of a few individuals is a threat to the country.

Answer:

Economic competition is inefficient and wasteful

Explanation:

The statement best describes an attitude shared by John D. Rockefeller, Andrew Carnegie, and J. P. Morgan is "Economic competition is inefficient and wasteful."

This is evident in the fact that all these three aforementioned wealthy Americans were popularly known for their tendency to develop any form of monopoly in their various business industry.

To them, the existence of economic competition leads to inefficiency. Hence, they always prefer to eliminate the competition, before committing massive investments for the needed growth and development, instead of outwitting the competitors.

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