Table of Contents
- 1 What early efforts were made to control the new corporate industrial giants and how effective were these efforts?
- 2 How did the huge industrial trusts monopolies such as steel & oil Develop & affect the economy?
- 3 What was the impact of the transcontinental railroad system on the American economy and society?
- 4 What steps did big business use to eliminate competition?
- 5 How did farmers and industrial workers respond to challenges during the American Gilded Age?
What early efforts were made to control the new corporate industrial giants and how effective were these efforts?
The earliest efforts to do so generally had to do with regulating the prices these monopolies could charge. One example of this was the Interstate Commerce Act of 1887. Later on, laws were passed to prevent monopolies. The major example of this was the Sherman Antitrust Act of 1890.
How did the huge industrial trusts monopolies such as steel & oil Develop & affect the economy?
Trusts drove many small companies out of business when they could not compete with it. These giant monopolies also forced laborers to work for low pay, and consumers to accept high prices for mediocre products. This Act prohibited monopolies and any unreasonable limiting of competition within an industry.
What was the result of his controlling the competition quizlet?
What was the result of his controlling the competition? What were the results of the Sherman Antitrust Act? It was ineffective because the definitions of a trust and monopoly were not clear in the act and large companies were pressured by the government to reorganize into a single corporation to avoid prosecution.
What was the effect of the new industrial revolution on American laborers and who did various labor organizations attempt to respond to the new conditions?
The Industrial Revolution had a profoundly negative effect on workers during the early Twentieth Century. In the past, workers that crafted consumer goods were highly valued and respected. With the introduction of machinery for the mass production of goods, the American worker became expendable.
What was the impact of the transcontinental railroad system on the American economy and society?
Just as it opened the markets of the west coast and Asia to the east, it brought products of eastern industry to the growing populace beyond the Mississippi. The railroad ensured a production boom, as industry mined the vast resources of the middle and western continent for use in production.
What steps did big business use to eliminate competition?
What strategies enabled big business to eliminate competition? Some strategies used by big businesses were horizontal and vertical integration, as well as monopolies and oligopolies.
What methods were used by big business owners to eliminate competition?
Business leaders in the 1800s tried to eliminate competition by forming pools, trusts, monopolies, and through vertical and horizontal integration. Many companies organized pools to keep prices at a certain level, that is, they tried to keep prices from falling.
How did farmers and industrial workers respond to industrialization in the Gilded Age?
Farmers and industrial workers responded to industrialization in the Gilded Age from 1865-1900 by forming organizations that allowed for their voices to be recognized and by influencing political parties to help get national legislation passed.
How did farmers and industrial workers respond to challenges during the American Gilded Age?
The farmers and industrial workers responded to the Gilded Age in significantly negative ways including unions against their authority, strikes and political…show more content… After the Civil War many problems arose. For farmers- shipping rates, freight rates, silo prices, and interest rates all skyrocketed.