Impact of Rockefeller's Business Strategies

Hard Period 6: 1865–1898 Industrial Capitalism

In the late 19th century, as industrial capitalism took root in the United States, various factors contributed to the rise and expansion of monopolistic corporations. One of the key figures in this transformation was John D. Rockefeller, whose business strategies were pivotal in shaping the oil industry. His implementation of horizontal integration and aggressive competitive practices led to significant changes in how industries operated during this period. Which of the following statements best describes the impact of Rockefeller's practices on the American economy?

Rockefeller's practices increased competition among small businesses, leading to a more diverse market.

His methods demonstrated the effectiveness of vertical integration, establishing model practices for many industries.

Rockefeller's monopolistic control ultimately led to the introduction of antitrust laws to promote fair competition.

His business strategies significantly reduced the prices of oil, thereby increasing consumer access to energy resources.

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