1. In the Late 19th Century Growth of Big Business...

2. What is a Market??? A place where goods and services are bought and sold There is competition between these places

3. A New Concept Forming New Market Structures: Way businesses form to make largest profit Many new businesses struggle as start-up costs are high

4. New Structure Monopoly: What is the goal of the game of Monopoly? Complete control of a product or service = No Competition Buy out competition or drive them out of business Examples From Today:

5. New Idea Oligopoly: Market Structure dominated by only a few large firms which make a profit Monopoly vs. Oligopoly: What’s the Difference Examples of Oligopolies Today Sprint, Verizon, T-Mobile, & AT&T control 89% Pepsi, Coke, & Cadbury control about 90%

6. The Soda Pop Battle

7. Let’s Work Together... Cartel: A loose association of businesses that make the same product Agree to limit the supply: AKA- Price Fixing These groups face strict government regulation and are illegal in the U.S. as of 1890 Example OPEC: Organization of Petroleum Exporting Countries

8. Growing a Business Different ways to grow a business and make it successful Vertical Consolidation: (Integration) Gaining control of all different businesses that make up all phases of a product’s development Used by Carnegie Class Example: Bottle of Pepsi Why does this idea work??

9. Growing Business Part 2 Horizontal Consolidation: (Integration) Bringing together of many firms in the same business AKA: Buying out the Competition Used by Rockefeller Class Example: Bottle of Pepsi How is this successful?

10. Class Activity

11. Working Conditions Factories get the nickname over time as being sweatshops Factory where employees work long hours at low wages and under poor working conditions