Which of the Following Was True of Standard Oil in the 1890s

question 31

Multiple Choice

Which of the following was true of Standard Oil in the 1890s?

• A) It was not as strong as it had been in the 1880s.
• B) It controlled more than 90 percent of the oil business.
• C) It had cut its workforce to 50,000 people.
• D) It was broken up into a number of smaller companies by the federal government.

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Definitions:

Budget Constraints

Financial limitations that restrict the amount of money available for spending and investment.

Product Launch

The introduction of a new product to the market, involving activities designed to promote and sell the product.

Product Development

The process of creating or improving a product or service to meet market demands or take advantage of new opportunities.

Test Marketing

A strategy that involves launching a product in a limited market to gauge consumer response before a wider release.