oct 31, 1870 - monopoly/Trust (1870-1900)
Description:
Trust definition. Used to eliminate competition in business. One powerful company will have control of the stocks of many smaller companies in the same line of business, creating a monopoly. Trust significance. The monopoly allows price-fixing and benefits all companies involved.Added to timeline:
Date:
oct 31, 1870
Now
~ 154 years ago