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Sherman Anti-Trust Act
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∙ 14y ago
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Why are monopolies known to be bad?
I think it is because people get jealous that others are more successful than them, so they convince an army of idiots to try to make monopolies illegal.
Why are monopolies illegal?
They are not. Although some like for example con Edison are but, they are a "natural / limited monopoly" in other words they are extremely regulated by the government.
How were monopolies ended?
Because people criticized that monopolies were unfair and that companies that were using monopolies were too vague. So the government stepped in and made a law that monopolies were no longer allowed. Think of it as the game monopoly. What is your goal? Your goal is to get money and buy all of the companies that are in your way so you would buy their company and there you go, they were out of your way. I hope that helps.
Is a monopoly legal in America?
There are regulations. Monopoly means that there is one firm available to do a service. That is NOT illegal. If you are the only one who knows how to build a plane, you are the only one who can manufacture it. Monopolies are mainly done with patents, copyrights, etc. So if I can build a device that can make you fly, I don't have to tell everyone my secrets. I get get a patent. You can consider me a monopoly, but what I am doing is NOT illegal. Monopolies are also made, in a way, with government contracts. For example, if your city hires a company for water or electricity, that is the only company available in your area and therefore a monopoly, but NOT illegal, there is simply nobody else who can do the business. If however, you do not have a patent for something or you use a general idea and get everyone else out of business, then you are a monopoly that IS illegal.
What are the four types of monopolies?
natural, geographic, technological, government
When were monopolies made illegal?
They weren't. Microsoft is a monopoly, the federal reserve is a monopoly.
What did the Sherman Antitrust Act make illegal in 1890?
The Sherman Anti-Trust Act, passed in 1890, made it illegal for businesses to combine t create monopolies. Monopolies prevented competition and drove prices up for consumers.
What made monopolies and trust illegal?
Anti-Trust Law and Competition Law. Specifically the Sherman Anti-Trust Act.
What effect did the Clayton Antitrust Act have on monopolies such as Standard Oil?
It made certain practices illegal when their effect was to lessen competition to create a monopoly.
What power do illegal monopolies use to drive out competition?
Illegal monopolies are those that can be shown to use their power to suppress competition. A monopolist has the power to dominate markets--the ability to set the price by altering supply.
What was the purpose of the Sherman Antitrust Act It made the sale of a corporation without Congress's approval illegal. Itattemped to create competition by making monopolies illegal. It attempted to?
You need to answer this question question because we don’t do homework and your teacher is looking for your critical thinking skills and how well you understood the lesson.
Why are monopolies known to be bad?
I think it is because people get jealous that others are more successful than them, so they convince an army of idiots to try to make monopolies illegal.
Why government grants patented monopolies?
There are no patients monopolies. There are patients that are for items made by people or companies.
What association of 1914 strengthened previous corporation control laws and made illegal certain methods big business used to eliminate competition?
It was not an association but an act, it was the Clayton antitrust act that made monopolies illegal, the boardgame too, just kidding on the board game part.
Which practice became an illegal business act according to the Sherman Antitrust Act?
forming monopolies by buying out competitors
When did marijuana become illegal if it was used in ancient times?
Henry anslinger, racism, corruption, monopolies, pharmaceutical lobbiests, basicaly crackers
Why are monopolies illegal?
They are not. Although some like for example con Edison are but, they are a "natural / limited monopoly" in other words they are extremely regulated by the government.
