THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gospel of Wealth
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Corporation
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Sherman Antitrust Act
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None of the above
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Detailed explanation-1: -The Sherman Antitrust Act is a law passed by Congress to promote competition within the economy by prohibiting companies from colluding or merging to form a monopoly.
Detailed explanation-2: -Sherman Antitrust Act of 1890 is a federal statute which prohibits activities that restrict interstate commerce and competition in the marketplace. It outlaws any contract, conspiracy, or combination of business interests in restraint of foreign or interstate trade.
Detailed explanation-3: -Its author was John Sherman, a United States Senator from Ohio. The federal government utilized this legislation throughout the late 1800s and the 1900s to break up monopolies, including that of the Standard Oil Company in 1911.
Detailed explanation-4: -It prohibits all agreements and conspiracies in restraint of trade and commerce. These prohibited restraints include price fixing, market allocation, boycotts, bid rigging and tying agreements. The Sherman Act also prohibits monopolizing or attempts to monopolize any line of commerce.