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5 July, 06:16

How did business leaders work to increase their control over the economy using things like trusts, pools and holding companies?

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  1. 5 July, 07:54
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    Business leaders used trusts and monopolies (for example) to take over competing businesses.

    With a trust, multiple companies worked together to eliminate other competition. With a monopoly, one business worked towards eliminating all competition.

    Once competition has been eliminated, the trust/monopoly has enough power to regulate prices on that specific good/service.

    This posed a danger to society, because there were no competing companies who sold the same service/goods for less money. This forced all customers to pay a high price because they could not find other businesses who offered it for cheaper.
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