Unit 3 Lesson 5 Quiz Reveiw
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Which business practice is described by the following scenario: A steel mill owner buys the mine that produces iron ore, the railroad that transports the iron ore, the factory that makes steelmaking furnaces, and the company that advertises the steel.
vertical integration
Which business organizations were designed to avoid regulations and act as monopolies?
trusts and cartels
John D. Rockefeller started in the oil industry as a business partner in a refinery. How did he become one of the nation's wealthiest men?
He created a monopoly that controlled most of the production and transportation of refined petroleum.
Which is the correct pairing of a titan of industry and his business?
Morgan—banking