Horizontal integration refers to a company that holds control over a specific part of the production process by managing most or even all of the resources required for that distinct step of production.
Furthermore, a company that gets to own every single part of the production process, is a horizontal monopoly. The idea of a horizontally integrated monopoly was made popular by John D. Rockefeller’s Standard Oil company.
B ) It was an American oil producing, That was transporting, refining, and marketing company.And was established in 1870 by John Rockefeller as a corporation in Ohio Its controversial history as 1 of the worlds 1st and largest multinational corporations ended in 1911, when the U.S. Supreme Court ruled that standard was an illegal monopoly.
b) refining oil
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B) refining oil
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He bought another businesses and products in order to increase or expand his business further. Refining oil was the business that made the standard oil a horizontal monopoly.
The government was though against the illegal monopoly. He bought other businesses which decreased the cost of production. This helped him increase his profits and business to such an extent that there was no other competitor in the market.
It owned 90% of the oil refineries in United States. Hence explaining the monopoly.
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Standard Oil started its business in 1870 by John D. Rockefeller and Henry Flagler as a corporation in Ohio. It became the largest oil refinery of its time and participated in every step of the oil process, including producing, refining, transporting, and marketing company. To answer this question lets understand what horizontal integration means: When a company increase the production of a good via expansion or acquiring the competitors at the same level of the value chain. In this matter, Standard Oil horizontally integrated its monopoly with the refining oil, buying competitors or using aggressive pricing to destroy them.
The correct answer to the question: What was the core business that made Standard Oil a horizontally integrated monopoly?, is that Standard Oil became one of the largest, most powerful, and most advanced oil companies in the world by not only extracting, but also refining, transporting and marketing the oil produced.
Standard Oil, established in 1870 by John D. Rockefeller and Henry Flagler became not just an enormous corporation, but it also became one of the best known cases of monopoly in oil production. They basically became owners of oil production not just by acquiring any other companies that might be competing with them, but also by acquiring businesses that were related to the production of oil, its transportation, its refinement and its marketing. This monopoly was not stopped in its power until 1911, when the U.S Supreme Court ruled it as illegal.