During the Gilded Age, Railroad Pricing Practices Meant That

question 14

Multiple Choice

During the Gilded Age, railroad pricing practices meant that

• A)farmers were often forced to pay higher prices.
• B)Standard Oil paid the highest prices.
• C)prices were highest in urban areas.
• D)no railroads were built into farm areas.
• E)prices were fair for everyone.

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Definitions:

Specialization And Trade

The economic practice where individuals or entities focus on a narrow area of expertise to increase efficiency and trade with others for different goods or services.

Consume More

The action or tendency of increasing the use or consumption of goods and services.

Goods

Tangible products that satisfy human wants or needs.

Production Possibilities Frontier

A curve that represents the maximum productive capacity of an economy when all resources are fully utilized.