Question

B. Big business was able to expand rapidly because of practices that were good for business E
not necessarily good for workers or consumers. Explain each of the practices. (2 points each,
points total)
1. Monopoly: it is the market where the
business of the company controls the large amount
2. Trust:

Answer 1

Final answer:

Monopolies and trusts allowed big businesses to control markets, leading to limited competition and consumer choice.

Explanation:

Monopoly: A monopoly occurs when a single company controls a significant portion of the market, giving them the power to set prices and stifle competition. An example is AT&T's monopoly on long-distance telephone services in the US.

Trust: Trusts were large corporations that controlled various aspects of an industry, from raw materials to distribution. Standard Oil Company, controlled by John D. Rockefeller, is a prominent example of a trust.

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