Q19 Explain what antitrust means. Identify and explain at least 2 antitrust laws.
Q19
Explain what antitrust means. Identify and explain at least 2 antitrust laws.
Homework Answers
United States antitrust law is a trade regulation law, is nothing but the collection of federal and state government laws that focus on regulating the promotion of fair competition by the business corporations which will be beneficial for consumers.The objective of trade regulation is to focus on promoting unrestricted competition among businesses.
The two antitrust laws are the Sherman Antitrust Act and Clayton Antitrust Act. The Sherman Antitrust Act was passed in 1980 which makes it illegal for all contracts, combinations, etc. that has affected trade. Due to its vague language it created loopholes for large corporations which made them to get involved in restricted business arrangements which affected the competition adversely. Thus Clayton Antitrust Act law was enacted in 1914 by the congress to clarify and improve the Sherman Antitrust Act.
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Q19
Explain what antitrust means. Identify and explain at least 2
antitrust laws.
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