A Major Factor That Weakened Standard Oil's Monopoly Power Prior

question 12

Multiple Choice

A major factor that weakened Standard Oil's monopoly power prior to being broken up by the Supreme Court in 1911 was

• A) the discovery and development of the Texas and Oklahoma oil fields.
• B) an increase in the demand for oil brought about by the increase in automobile ownership.
• C) the government regulation of Standard Oil as a natural monopoly.
• D) the increased use of ethanol, which is made from corn, as a source of fuel.
• E) the significant losses incurred while searching and drilling for oil.

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Definitions:

Alternating Work Arrangements

Workplace policies that allow employees to alternate between different working schedules or locations, such as telecommuting and office work.

Production Team

A group of individuals who work together in a specific stage of the production process to create a product or provide a service.

Job Enlargement

The process of making a job more varied by adding more tasks of similar complexity to an employee's responsibilities.

Efficiency

The ability to accomplish a task or goal with minimum waste of resources, including time, energy, or materials.