What was the Core Business that made Standard Oil a Horizontally Integrated Monopoly?
Answer :
A. Finding new uses for oil
B. Building oil pipelines
C. Refining oil
D. Transporting oil to customers
Correct Answer: C. Refining oil
Focussing primarily on oil refining was the key that enabled Standard Oil to establish itself as a dominant monopoly. In order to maintain its monopoly in the oil business, Standard Oil bought and combined all rival refineries under its brand.
Related Question:
Which of the Following is not be a Warning Sign of a Scam When Buying a Car or Other Big Purchases?
Which Of The Following Statements About Economic Policy Are False?
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