USA HISTORY

Detailed explanation-1: -Approved July 2, 1890, The Sherman Anti-Trust Act was the first Federal act that outlawed monopolistic business practices. The Sherman Anti-trust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts.

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: -a law that prevents companies from working together to control prices unfairly or to create a monopoly (= a single company or small group of companies that is the only supplier of something), or the area of law that deals with these things: Competitors who collude to fix prices would be breaking antitrust laws.

Detailed explanation-4: -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.