US.12: Trusts and Monopolies

What was the purpose of forming trusts and holding companies?

• To increase competition.

• To consolidate power and eliminate competition.

• To reduce prices for consumers.

• To improve product quality.

What was one consequence of reduced competition due to trusts and monopolies?

• Higher quality products.

• Lower quality products.

• More innovation.

• Increased consumer options.

What is one characteristic of a trust?

• A single business entity.

• A company made up of several businesses.

• A market with multiple suppliers.

• A legal mechanism to reduce prices.

Why did workers organize labor strikes and unions?

• To reduce working hours

• To fight for better working conditions, higher wages, and job security

• To support their employers

• To increase job mobility

What does the second key provision of the Sherman Antitrust Act make illegal?

• All attempts to monopolize any part of trade or commerce in the United States

• All labor strikes

• All forms of job security

• All forms of price fixing

Who enforces the provisions of the Sherman Antitrust Act?

• The U.S. Department of Labor

• The U.S. Department of Justice

• The U.S. Congress

• The U.S. Department of Commerce

What did many trusts and monopolies prioritize over the well-being of their workers?

• Employee benefits

• Profits

• Job security

• Working conditions

What were labor strikes and unions a response to?

• Increased job mobility

• Exploitation and poor treatment in industries controlled by trusts and monopolies

• Improved working conditions

• Higher wages

What did the Sherman Antitrust Act aim to reduce?

• Job mobility

• Economic competition

• Concentrations of power that interfere with trade

• Labor strikes

Which act did the Clayton Antitrust Act aim to clarify and strengthen?

• The Federal Trade Commission Act

• The Sherman Antitrust Act

• The Robinson-Patman Act

• The Celler-Kefauver Act