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The Rise of Big Business – Chapter 4L2

The Rise of Big Business – Chapter 4L2. Entrepreneur: Andrew Carnegie. Steel business Pittsburg, PA Controlled all of the steps of the steel-making process “Do not make riches, but usefulness, your first aim.”. Entrepreneur: John D. Rockefeller. One 42-gallon barrel

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The Rise of Big Business – Chapter 4L2

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  1. The Rise of Big Business – Chapter 4L2

  2. Entrepreneur: Andrew Carnegie Steel business Pittsburg, PA Controlled all of the steps of the steel-making process “Do not make riches, but usefulness, your first aim.”

  3. Entrepreneur: John D. Rockefeller One 42-gallon barrel of oil creates 19.4 gallons of gasoline. The rest (over half) is used to make things like: perfumes, insecticides, dice, sweaters, ballpoint pens, paint, footballs, dresses, roofing, umbrellas, shoe polish, hair coloring, lipstick, trash bags…. 6000 different items! Refine oil; turn it into useful products Standard Oil Company Monopoly – company that controls an entire industry so that there is no competition

  4. Entrepreneurs: • William Randolph Hearst Newspaper • Madame C.J. Walker Shampoo • George Westinghouse Alternating Current • J. P. Morgan Banker

  5. Economics - Manufacture, Distribution, and Consumption of Goods and Services Free Enterprise Consumer Producer Resources: human – people capital – tools, money natural – things found in nature

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