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Andre45
9 days ago
15

Using evidence from the readings, write a short paragraph in which you describe the characteristics that helped Rockefeller buil

d his monopoly. Use at least three pieces of evidence found in the text.
History
2 answers:
Artemon [556]9 days ago
6 0

Despite minimal formal education, Rockefeller started working at the age of 16. He explored the burgeoning oil sector and opened an oil refinery in Cleveland in 1863, but struggled to oversee it effectively. Following a near-fatal train accident, he interpreted it as a sign of destiny. Subsequently, he negotiated an agreement with Cornelius Vanderbilt to transport his oil using Vanderbilt's trains.


In 1870, he launched Standard Oil, which achieved immense success. He offered his employees low salaries while demanding extensive hours. Additionally, he eliminated his rivals from the market. Standard Oil evolved into one of the most significant corporations in the United States, effectively establishing a monopoly over the oil industry.


irina [527]9 days ago
3 0

Rockefeller possessed valuable connections and a strong business acumen. He was selective in choosing his business associates, and it was evident that the quality of those involved in the Standard Trust in 1882 was a key strength. His patience in outlasting competitors was remarkable; he was noted for his ability to endure while holding back. He adeptly managed criticism by downplaying dissenting opinions, leading many to accept that critics were merely individuals with personal grievances.

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