Trusts and Monopolies
Dan Griswold, Joey Baltadonis, Summer McGowan
Monopolies are when a trust takes over all other companies and has no competition with other companies. A trust is when a corporation agrees to sell to one major company.
Monopolies are bad, because they destroy smaller companies and businesses, and that means that some other good products being produced may not be reaching the people.
RELATION: Many Oil companies in the late 1800's became monopolies. For example, John D. Rockefeller and Andrew Carnegie owned companies that became monopolies.
Standard Oil is strangling all other companies, and thus killing all their competition.(Above Photo)
Some examples of monopolies that began in the late 1800's are Exxon Mobil, Standard Oil, and Carnegie Steel
Rockefeller is holding a globe it symbolizes that he controls the oil industry. (Above photo)
Some current examples of monopolies are: Google, OPEC, Microsoft, and Luxottica.