Question

The following is an excerpt from the Sherman Act of 1890: "Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce . . . shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine . . . or by imprisonment . . . or by both said punishments, in the discretion of the court."

The Sherman Act of 1890 is an example of which of the following?
a) Antitrust lawsb) Price regulations

Answer 1

The excerpt from the Sherman Act of 1890 represents a key piece of U.S. antitrust law, aimed at preventing monopolies and preserving competition in the marketplace. Its passing signified government action against the dominance of large businesses and set the stage for future regulatory measures.

Step-by-step explanation:

The Sherman Act of 1890, excerpted in your question, is a seminal piece of U.S. legislation that helped to control the power of monopolies. Its main purpose was to preserve free and fair competition in the marketplace and it represents the starting point of modern antitrust laws. Congress passed this act in response to public concern over the dominance of large businesses, often organized as "trusts," which controlled entire industries and stifled competition.

The Sherman Act made it illegal to monopolize or attempt to monopolize, any part of trade or commerce in the U.S. One of the most notable early applications of the Sherman Act was the breakup of Standard Oil in 1911, which resulted in the creation of smaller, independent firms. The legislation laid the foundation for subsequent antitrust laws including the Clayton Antitrust Act of 1914 and the creation of the Federal Trade Commission (FTC) to further regulate unfair competition.

Answer 2

A. Antitrust Laws

Step-by-step explanation:

Antitrust laws also known as Competition laws are rules and regulations set forth by the government of the United States to prevent the monopolization of a market as well to promote fair competition by all stakeholders in a market. The Sherman Antitrust Act of 1890 falls into this category.

The Act seeks to prohibit the monopolization of a particular trade or other acts that seek to limit trade. If found guilty by a competent court, a fine up to the tune of $10,000,000 can be imposed on organizations, $350,000 for individuals or even a 3 years time in jail.

The Federal Commissions Act, and The Clayton Act are other examples of Antitrust laws.