How does one explain significance?
I'm doing my US History homework and the first question asks me to "Explain the significance of : corporation, stock, economies of scale, pool, Andrew Carnegie, vertical integration, horizontal integration, John D. Rockefeller, monopoly, trust, holding company."
I don't really understand what that means.
Any help?
September 5, 2013
12 Comments • Newest first
[quote=DarkkBladez]are you from california, i remember that exact section with those same people and key terms last year in my textbook lol[/quote]
Mississippi. Using a textbook called "The American Vision : Modern Times"
@PermaGypsy: During the late 19th and early 20th centuries, the demand for oil and steel was rising thanks to the Industrial revolution.
Basically Carnegie (Steel) and Rockefeller (Oil) were one of the first to start their respective fields and they made huge money. To prevent competition, they bought out other similar business (aka other steel and oil business). This is horizontal integration.
They also bought out business that may facilitate the steel and oil business to further strengthen their business (transportation, canals, etc.). This is called vertical integration.
So they basically had a monopoly on the business of steel (for Carnegie) and oil (for Rockefeller) and no one could challenge them. That's when then Sherman Antitrust Act and the Clayton Antitrust Act showed up to prevent these monopoly corporations from forming.
I left out a bunch of details, but that's the basic idea.
are you from california, i remember that exact section with those same people and key terms last year in my textbook lol
Explain why it matters, why you're learning about it, why you're writing about it. How did it impact the world in its own time frame, and what happened to the modern world as a result?
just define what it is and how it applies to the current period you're studying or how it affects people? idk maybe tie it into how industrialization back changed the way of life for people?
@Hatchet: Yes. Thanks
Step 1. Take out your US history textbook
Step 2. Use glossary to find terms in the text
Step 3. Copy text as answer
Step 4. Profit
[quote=PermaGypsy]So explain why corporations were important?
@hatchet Well of course. Why else would I make a thread about it?[/quote]
Explain the [b]importance[/b] of : corporation, stock, economies of scale, pool, Andrew Carnegie, vertical integration, horizontal integration, John D. Rockefeller, monopoly, trust, holding company
Is it easier for you now?
[quote=AveryMBII]Explain why/ how they were important.[/quote]
So explain why corporations were important?
@hatchet Well of course. Why else would I make a thread about it?
seriously?
Explain why/ how they were important.
Why is it important?