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Second Wave Industrialization and Its Effects Practice Test
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Q1
A British economist in 1883 argues that new steelmaking methods, telegraph cables, and integrated national markets are encouraging large-scale firms to undercut smaller competitors. He notes that “combines” coordinate prices and output across regions. Which term best describes the business organization he is observing in late nineteenth-century Europe?
A British economist in 1883 argues that new steelmaking methods, telegraph cables, and integrated national markets are encouraging large-scale firms to undercut smaller competitors. He notes that “combines” coordinate prices and output across regions. Which term best describes the business organization he is observing in late nineteenth-century Europe?