Vocab Essay

Rebate
A rebate is a deduction from an amount to be paid, or money back. Rockefeller, oil colour king, employed spies to find the rebates of railroads and squeeze the railroads to pay him the rebates on the bills of his competitors.
Vertical Integration
It was pioneered by might Andrew Carnegie. It is when you combine into one organization all phases of manufacturing from mining to marketing. This makes supplies more(prenominal) reliable and improved efficiency. It obligateled the quality of the product at all stages of performance.
Horizontal Integration
A technique used by John D. Rockefeller. Horizontal integration is an act of joining or consolidating with ones competitors to create a monopoly. Rockefeller was excellent with using this technique to monopolise certain markets. It is responsible for the majority of his wealth.
Trust
A commit is an economic tool devised late in the 1800s. It was pioneered by men such as Andrew Carnegie of the steel industry and John Rockefeller of the oil industry. The purpose of a trust is to eliminate competition in business. One powerful company will have control of the stocks of many smaller companies in the same line of business, creating a monopoly. The monopoly allows price-fixing and benefits all companies involved. Trusts were outlawed in the early 1900s.
John D.



Rockefeller
Rockefeller was a man who started from meager beginnings and eventually created an oil empire. In Ohio in 1870 he organized the Standard Oil Company. By 1877 he controlled 95% of all of the refineries in the United States. It achieved important economies twain home and abroad by its large scale methods of production and distribution. He also organized the trust and started the Horizontal Merger.
J. Pierpont Morgan
He was a banker who financed the reorganization of railroads, insurance companies, and banks. He bought out Carnegie and in 1901 he started the United States Steel Corporation.
Terence V. Powderly
Terence V. Powderly was an Irish-American...If you want to get a full essay, order it on our website: Orderessay



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