Question

6.5.3 industrial america B. Big business was able to expand rapidly because of practices that were good for business but not necessarily good for workers or consumers. Explain each of the practices. (2 points each, 10 points total) Monopoly: Trust: Laissez-faire: Corporation: Child Labor:

Answer 1

Answer:

The following practices are explained below:

Explanation:

Monopoly - It is the market where the business or the company, controls the large amount of the market for the service.

Trust - It is that term which is defined as the monopolies which control most of the or all of the sales of the particular service or the good or product.

Laissez-faire - It is that situation where the government is not involved in the economy at all.

Corporation - It is defined as the group of people who are authorized to act as a single or an individual entity and will be acknowledged as such in the law.

Child Labor- It is defined as the many children who are working the factories at the young age. The children are taken advantage by the managers or the owners of the business because the children work for very low wages.