Question

Who was the owner of Standard Oil and how did he control the oil business?

1) Vertical Integration
2) Horizontal Integration
3) Monopoly
4) Oligopoly

Answer 1

John D. Rockefeller was the owner of Standard Oil and he controlled the oil business through a combination of horizontal and vertical integration as well as the creation of a monopoly. Option 3

Step-by-step explanation:

John D. Rockefeller, an American industrialist, was the owner of Standard Oil. He controlled the oil business through a combination of vertical integration, horizontal integration, and the creation of a monopoly.

Rockefeller practiced horizontal integration by merging with other oil companies or driving his competition out of the market. He also used trusts, a larger company that controls similar smaller companies, to dominate the oil industry.

Furthermore, Rockefeller achieved vertical integration by acquiring companies involved in all aspects of the oil refining process, from raw materials to transportation and delivery. This allowed him to control the entire production and distribution chain, giving him even more control over the oil business. Option 3