Shared Flashcard Set

Details

U.S. Antitrust Legislation
laws designed to prevent monopolies
8
Economics
12th Grade
03/27/2012

Additional Economics Flashcards

 


 

Cards

Term
Interstate Commerce Act (1887)
Definition
created the Interstate Commerce Commission to 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 discrimination, local price cutting, mergers that reduce competition, and exclusive sales contracts
Term
Federal Trade Antitrust Act (1914)
Definition
created the Federal Trade Commission to investigate charges of unfair methods of competition and commerce
Term
Robinson-Patman ACT (1936)
Definition
protects small retail businesses by prohibiting wholesalers from charging small retailers higher prices than they charge large retailers and by prohibiting large retailers from 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 Acts (1976)
Definition
gives states the right to sue companies on behalf of citizens harmed by the company's antitrust violations; requires large companies to notify the government of planned mergers; strengthened the federal government's power to investigate antitrust violations
Supporting users have an ad free experience!