Understanding the Sherman Antitrust Act

What was the primary purpose of the Sherman Antitrust Act?

• To increase the number of monopolies in the United States

• To regulate interstate commerce

• To prevent the formation of monopolies and promote competition

• To support the growth of small businesses by providing them with subsidies

In what year was the Sherman Antitrust Act passed?

• 1890

• 1901

• 1912

• 1888

Who was the Sherman Antitrust Act named after?

• William Tecumseh Sherman

• John Sherman

• Roger Sherman

• Philip Sherman

Which sector was most affected by the Sherman Antitrust Act when it was first implemented?

• Agriculture

• Technology

• Railroads

• Banking

What does the Sherman Antitrust Act classify as illegal?

• Any form of business competition

• Trade between states

• Monopolistic practices and attempts to monopolize

• The establishment of small businesses

How has the Sherman Antitrust Act impacted the economy?

• By decreasing consumer choices

• By increasing prices of goods and services

• By promoting competitive practices among businesses

• By encouraging the formation of cartels

Which government body is primarily responsible for enforcing the Sherman Antitrust Act?

• The Federal Reserve

• The Department of Commerce

• The Federal Trade Commission

• The Department of Justice

What is one of the key outcomes of the Sherman Antitrust Act on monopolies?

• It has allowed monopolies to grow under certain conditions.

• It has made all monopolies illegal.

• It has led to the breakup of several large monopolies.

• It has had no significant impact on monopolies.

Which of the following is NOT a criterion under the Sherman Antitrust Act for determining whether a company is engaging in illegal monopolistic practices?

• The company's share of the market

• The company's pricing strategies

• The company's profitability

• The company's efforts to exclude competitors

How does the Sherman Antitrust Act define "monopoly"?

• Any business with more than 50% market share

• A company's exclusive control over a commodity or service in a particular market, eliminating competition

• A business with international operations

• Any large corporation with more than 100 employees