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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Nativists
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Bootleggers
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Monopolies
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None of the above
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Detailed explanation-1: -What is the purpose of the Sherman Antitrust Act? The Sherman Antitrust Act was enacted in 1890 to curtail combinations of power that interfere with trade and reduce economic competition. It outlaws both formal cartels and attempts to monopolize any part of commerce in the United States.
Detailed explanation-2: -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-3: -Following the breakup of sugar, tobacco, oil, and meatpacking monopolies, big business didn’t know where to turn. There were no clear guidelines about what constituted monopolistic business practices.