What business practice emerged in the late 1800s that involved eliminating competition?

The emergence of monopolies in the late 1800s was a significant development in American business practices, characterized by the consolidation of control over a market by a single company or a group of companies. During this time, entrepreneurs sought to eliminate competition in order to maximize profits and create a dominant position in their respective industries.

Monopolies often achieved this by aggressively acquiring competitors, controlling supply chains, or engaging in practices that stifled competition, such as price-fixing or predatory pricing. This period saw the rise of powerful business magnates and trusts, such as John D. Rockefeller in the oil industry and Andrew Carnegie in steel.

The effects of monopolies on the economy were profound as they often led to reduced consumer choice and higher prices, prompting public outcry and eventually leading to regulatory measures like the Sherman Antitrust Act of 1890 aimed at curbing such practices.

The other options represent different historical contexts: labor unions focused on organizing workers for better conditions, prohibition related to the ban on alcohol, and Reconstruction dealt with the post-Civil War recovery and integration of Southern states. None of these played a direct role in the emergence of practices aimed at eliminating competition in business, making monopolies the clear choice in this context