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Some people criticized the steel and oil industries because they thought that the companies were to large. The critics believed that the big companies were too powerful. A corporation that has little competition is called a Monopoly. That is what the critics thought. They felt it was impossible for the smaller businesses to compete with the monopolies. Without competition from other companies selling the same product, a monopoly can charge higher prices for poorer quality products. The buyer, without another company to turn to, has little choice but to pay for the over priced product or to do without the product.

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Q: Why did some people criticize the steel and oil industries in the 1800's?
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