Which group suffered most from the formation of a monopoly?

unions
politicians
small businesses
large corporations

The correct answer is “small businesses”

In the 19th century, monopolies harmed many, especially small businesses. For example, small farmers complained that monopolistic railroads engaged in price gouging for shipping their produce.

Monopolies stopped businesses from forming and closed the ones who where working, they bought competitors, upper-priced them, forced costumers to sign contracts.

At that time the US government believed strongly on laissez-fair capitalism, that meant that the system of capitalism would be responsible to regulate itself.

john smith was the first englishman to sail around the world. francis bacon served as attorney general and lord chancellor of england. he took up aristotelian ideas, arguing for an empirical, inductive approach, known as the scientific method, which is the foundation of modern scientific inquiry.

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