A Trust Is Formed When Shareholders of the Major Companies

question 52

True/False

A trust is formed when shareholders of the major companies in an industry place their shares in the hands of a board of trustees who control the companies and act as a single firm that can engage in monopoly pricing.

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Definitions:

Wind-Powered Ship

A seafaring vessel propelled primarily by sails that harness wind power, a crucial technology for transportation, trade, and warfare before the advent of steam and motor engines.

Constitutional Convention

A gathering for the purpose of writing or revising a constitution, such as the one held in Philadelphia in 1787 to draft the U.S. Constitution.

Average American

The concept or statistical figure representing the typical attributes or characteristics of an average citizen in the United States.

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Individuals who owned slaves, especially prevalent in historical contexts where slavery was legally and socially sanctioned, such as pre-Civil War United States.