Dominant firms that formed in several industries in the U.S. in the 1870s and 1880s, which assigned control to a single decision group, were referred to as
A)trusts.
B)mergers.
C)tying contracts.
D)single-seller monopoly.

Question

Quizplus · Accepted Answer

Trusts were dominant firms or groups of firms that came to control entire industries by placing control under a single group of trustees, who would manage the consolidation of resources, production, and distribution to dominate the market. This was a common practice in the 1870s and 1880s in the United States.

Dominant Firms That Formed in Several Industries in the U