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Rockefeller Monopolies Analysis

281 Words2 Pages

Rockefeller owned nearly 95% of all oil in the U.S. due to being the first man to start a trust in the oil business he was able to lower the cost of his oil. After he had every consumer buying his oil, and knocking the other 5% out of business he then controlled all oil. After he owned all oil in the United States he raised his prices, and became the richest man in the country, and most likely the richest man in the world.

Trusts and Monopolies affect the american businesses by limiting the supply of goods to the public. Once their supply is limited the public have to pay the higher costs because that specific product is not available anywhere else. Trusts and Monopolies cause for higher prices because of the limited availability.

I believe

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