Confucius was more focused on respect to others and love.
Townshend Acts was also referred to as Townshend Duties
- Let understand that Townshend Acts is an Act enacted in British by the Parliament passed in the year 1767 and 1768.
- The Townshend Act was enacted in 1767 and notably introduced new measures about collection of indirect taxes by the British officer in US colony.
- However, the colonist were continued to be angered because they knew it is an extension of the Stamp Act which they protested for as a result of increase in direct tax.
In conclusion, the colonist protested the against the Townshend Act because they felt the introduction will bring more hardship to the land.
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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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