antitrust laws definition quizlet
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What is an antitrust law? What is an antitrust law? Antitrust laws - also referred to as competition laws - are statutes developed by the U.S. Government to protect consumers from predatory business practices by ensuring that fair competition exists in an open-market economy. Antitrust laws are applied to a wide range of questionable business activities, including but not limited to:
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What are Antitrust Laws? 10 hilariously insightful foreign words. Antitrust laws, also known as competition laws, are legal rules to promote fair competition in the marketplace. These laws can apply to both businesses and individuals. Antitrust laws are designed to prevent actions that might hurt consumers or unfairly harm other businesses, such as the formation of monopolies, illegal cooperation between competing businesses, and certain mergers between companies.
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- Congress passed the first antitrust law, the Sherman Act, in 1890 as a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade. In 1914, Congress passed two additional antitrust laws: the Federal Trade Commission Act, which created the FTC, and the Clayton Act. With some revisions, these are the three core federal antitrust laws still in effect today.
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Why Antitrust Laws Matter? (By William Markham, 2006) The antitrust laws are supposed to promote and protect competition, or, if you will, competitive processes in distinct “lines of commerce” or “relevant markets.” This alone is their proper purpose. They are not intended to punish big companies merely on account of their size or because of their commercial success.
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Guide to Antitrust Laws It has become well settled over the years that certain forms of agreement among competitors are so harmful to competition and consumers that such conduct should be prohibited outright. The antitrust laws deem these types of offenses as per se illegal, because they will always or almost always result in consumer harm. Examples of per se offenses include price fixing, bid rigging, market and/or customer allocations and group boycotts.
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United States antitrust law United States antitrust law. United States antitrust law is a collection of federal and state government laws that regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers.
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AMERICAN HISTORY EXAM REVIEW The Sherman Antitrust Act of 1890 was the first antitrust law in the United States and continues to be the centerpiece of U.S. antitrust policy. It was passed during a time when mergers in many important industries were producing large firms that dominated their markets, causing concern about market power.
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Definitions &Translations U.S. National Library of Medicine(0.00 / 0 votes)Rate this definition: Antitrust Laws. Those federal and state laws, and their enforcement, that protect trade and commerce from unlawful restraints and monopolies or unfair business practices.
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The Antitrust Laws The Antitrust Laws. Congress passed the first antitrust law, the Sherman Act, in 1890 as a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade..
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What is 'Antitrust' The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing.They prohibit a variety of practices that restrain trade.he antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing.
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economics. fundamental finance .com The Sherman Antitrust Act was passed in 1890 after widespread growth of trusts in the 1880's. Section 1 of the Sherman Antitrust Act prohibits agreements in restraint of trade--such as price-fixing, refusals to deal, bid-rigging, etc. The parties involved might be competitors, customers, or a combination of the two.
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- The purpose of both deregulation and antitrust laws is to : promote competition. Log in to see link for more information. Added 1/17/2014 12:49:58 PM. This answer has been confirmed as correct, not copied, and helpful.
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- The Sherman Antitrust Act -- passed in 1890 -- was the first federal antitrust law and is the source of all American antimonopoly laws.
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- Broadly speaking, antitrust laws seek to promote fair competition on the merits and to protect consumers and wronged competitor businesses from anti-competitive business practices — practices undertaken in effort to undermine competitive commercial behavior in a given market or line of commerce.roadly speaking, antitrust laws seek to promote fair competition on the merits and to protect consumers and wronged competitor businesses from anti-competitive business practices — practices undertaken in effort to undermine competitive commercial behavior in a given market or line of commerce.
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Sherman Antitrust Act The Sherman Antitrust Act, the first federal antitrust law, authorized federal action against any combination in the form of trusts or otherwise, or conspiracy, in restraint of trade..herman Antitrust Act. The last third of the 19th century witnessed the development of business conglomerates or trusts. Many people believed that this new form of business organization stifled competition and led to manipulation of prices.
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United States antitrust law Third, they prohibit the creation of a monopoly and the abuse of monopoly power. The Federal Trade Commission, the U.S. Department of Justice, state governments and private parties who are sufficiently affected may all bring actions in the courts to enforce the antitrust laws.
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What is the 'Clayton Antitrust Act' What is the 'Clayton Antitrust Act' The Clayton Antitrust Act is an amendment passed by U.S. Congress in 1914 that provides further clarification and substance to the Sherman Antitrust Act of 1890 on topics such as price discrimination, price fixing and unfair business practices.
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Sherman Antitrust Act - Legal Definition Sherman Antitrust Act-Legal Definition. n. The definitive antitrust statute, passed by Congress in 1890, that prohibits monopolies or unreasonable combinations of companies to restrict or in any way control interstate commerce.herman Antitrust Act-Legal Definition. n. The definitive antitrust statute, passed by Congress in 1890, that prohibits monopolies or unreasonable combinations of companies to restrict or in any way control interstate commerce.
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- Passed in 1890, the Sherman Antitrust Act was the first major legislation passed to address oppressive business practices associated with cartels and oppressive monopolies. The Sherman Antitrust Act is a federal law prohibiting any contract, trust, or conspiracy in restraint of interstate or foreign trade.
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The Antitrust Laws The Antitrust Laws. Congress passed the first antitrust law, the Sherman Act, in 1890 as a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade..ong ago, the Supreme Court decided that the Sherman Act does not prohibit every restraint of trade, only those that are unreasonable. For instance, in some sense, an agreement between two individuals to form a partnership restrains trade, but may not do so unreasonably, and thus may be lawful under the antitrust laws.
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- DEFINITION of 'Antitrust'. The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade.
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Antitrust law From Conservapedia. Antitrust laws are federal and state statutes to protect trade and commerce from unlawful restraints, price discriminations, price fixing, and monopolies. Antitrust laws reflect the economic harm caused by a monopoly. Antitrust laws aim to stop abuses of market power by big companies and, sometimes, to prevent corporate mergers and acquisitions that would create or strengthen a monopolist.
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What is 'Antitrust' The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade.
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What are the Sherman Antitrust and Clayton Acts? Passed in 1890, the Sherman Antitrust Act was the first major legislation passed to address oppressive business practices associated with cartels and oppressive monopolies. The Sherman Antitrust Act is a federal law prohibiting any contract, trust, or conspiracy in restraint of interstate or foreign trade.ven though the title of the act refers to trusts, the Sherman Antitrust Act actually has a much broader scope. It provides that no person shall monopolize, attempt to monopolize or conspire with another to monopolize interstate or foreign trade or commerce, regardless of the type of business entity.
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Guide to Antitrust Laws What follows will be a basic summary of the types of conduct for which it is now well established may raise concerns under antitrust laws. As you read through these pages, it’s important to remember that one of the central tenants of antitrust law is the protection of competition, not competitors.