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Market Structures
Chapter 6 vocab
8
Economics
12th Grade
03/27/2012

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Term
Interstate Commerce Act (1887)
Definition
created the intersate Commerce Commission (ICC) ot oversee railroad rates; currently regulates railroads, motor vehicles, and other freight carriers
Term
Sherman Antitrust Act (1890)
Definition
prohibits any agreements, contracts, or conspiracies that would restrain interstate trade or cause monopolies to form
Term
Clayton Antitrust Act (1914)
Definition
clarified and strengthened the Sherman Antitrust Act by prohibiting price descrimination, local price cutting, mergers that reduce competitoin, and exclusive sales contracts
Term
Federal Trade Commission Act (1914)
Definition
created the Federal Trade Commission (FTC) to investigate charges of unfair methods of competition and commerce
Term
Robinson-Patman Act (1936)
Definition
(also called Antiprice Descrimination Act) protects small retail businesses by prohibiting wholeslaers from charging small retailers higher prices than they charged large retailers and by prohibiting large retailers form setting artificially low prices
Term
Celler-Kefauver Act (1950)
Definition
amended the Clayton Act to prohibit corporate acquisitions when they substantially decrease competition
Term
Antitrust Procedures and Penalties Act (1975)
Definition
increased penalties for violating antitrust laws
Term
Parens Patriae Act (1976)
Definition
gives states the right to sue companies on behalf of citizens harmed by the company's antitrust violations
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