Think about Standard Oil's business practices. In three to four sentences, explain why there was such a strong negative feeling toward the Standard Oil monopoly.

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04-10-2017
Social Studies

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Think about Standard Oil's business practices. In three to four sentences, explain why there was such a strong negative feeling toward the Standard Oil monopoly.

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ajernandes01 ajernandes01 · Answer 1 · 2018-06-25T19:29:44+02:00

Sample Response: Standard Oil was taking advantage of incentives that were being given to growing businesses at the time. The company was also ensuring that competition could not continue by lowering prices so much that other producers could not continue to make a profit. With little competition remaining in the market, consumers would be forced to pay the prices set by Standard Oil.

Which issues are included in your response? Check all that apply.

rising prices for consumers
undercutting prices
manipulating local markets and stations
secret deals with train companies

PiaDeveau PiaDeveau · Answer 2 · 2021-10-06T11:53:57+02:00

PiaDeveau PiaDeveau

06-10-2021

Standard oil decided to take advantage of the government's incentives for expanding enterprises at the time.

The organization was fantastic, and share in that competitiveness can't go on with prices that are so low that other companies can't make a profit.

Due to the lack of demand in the industry, customers would be compelled to pay the conventional oil price.

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