THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Sherman Anti-Trust Act
|
|
|
Interstate Commerce Act
|
|
|
McKinley Tariff
|
|
|
Laissez-Faire
|
Detailed explanation-1: -Section 2 of the Sherman Act makes it unlawful for any person to “monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations . . . ."
Detailed explanation-2: -While Section 1 of the Sherman Act governs multilateral restraints of trade, Section 2 prohibits unilateral anticompetitive conduct by dominant firms-in a word, monopolization. Section 2 does not prohibit “bigness” standing alone.
Detailed explanation-3: -The Sherman Antitrust Act This Act outlaws all contracts, combinations, and conspiracies that unreasonably restrain interstate and foreign trade. This includes agreements among competitors to fix prices, rig bids, and allocate customers, which are punishable as criminal felonies.