Which of the following men created a monopoly in the steel industry?

• A. Andrew Carnegie
• B. John D. Rockefeller
• C. J.P. Morgan
• D. Cornelius Vanderbilt

Answer: (A)

Verified step by step guidance

1. Identify the key concept in the question: it asks about the individual who created a monopoly in the steel industry. This relates to the historical development of industrial monopolies in the United States.
2. Recall the main figures associated with major industries during the late 19th and early 20th centuries: Andrew Carnegie, John D. Rockefeller, J.P. Morgan, and Cornelius Vanderbilt.
3. Understand the industries each person is linked to: Andrew Carnegie is famously connected to the steel industry; John D. Rockefeller to oil; J.P. Morgan to finance and banking; Cornelius Vanderbilt to railroads and shipping.
4. Recognize that a monopoly occurs when a single firm or individual dominates an entire industry, controlling most or all of the market supply.
5. Conclude that Andrew Carnegie is the correct answer because he built a dominant steel company, effectively creating a monopoly in the steel industry through vertical integration and aggressive business strategies.