SC EOCEP USHC Practice Questions - South Carolina EOCEP U.S. History And The Constitution Exam

What business strategy did Andrew Carnegie use to dominate the steel industry during the Gilded Age?

Vertical integration: controlling every stage of production from raw iron ore mining to finished steel transport Horizontal integration: purchasing competing steel mills to form a single trust Corporate franchise leasing: licensing steel patents exclusively to European manufacturing firms Government nationalization: turning private steel production over to federal administrators

Correct Answer:

Vertical integration: controlling every stage of production from raw iron ore mining to finished steel transport

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