In the closing decades of the nineteenth century, many industries in the U.S. economy were dominated by a single firm that had most of the sales for the entire country. In many cases these large firms were _______.
A) as efficient and innovative as they could be
B) organized in the legal form of a trust
C) able to provide consumers with the lowest price products
D) using illegal practices to dominate the US economy

Question

Quizplus · Accepted Answer

In the late 19th century, many dominant firms in the U.S. economy were organized as trusts, a form of business organization where a group of corporations would be managed by a single board of trustees, effectively reducing competition and controlling prices within an industry.

In the Closing Decades of the Nineteenth Century, Many Industries