1. Industial Revolution
Electricity, Steel and Oil The three major improvements of the second Industrial Revolution were in the areas of energy and metal. It was based on oil, steel ... like Standard Oil in the United States, became larger and larger, buying up competing companies, or driving them out of business. Other corporations built trusts, similar businesses under a single group. Both monopolies and trusts reduced (or eliminated) competition, decreasing choices and variety. However, prices could be stabilized and profits could be increased. The ... first, that humanity could solve any problem using the scien...
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