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antitrust laws are designed to quizlet

For, unlike economics, law is an administrative system the effects of which depend upon the content of rules and precedents only as they are applied by judges and juries in courts and by lawyers advising their … The federal antitrust laws cover illegal activities affecting commerce among the states. Many practices alleged to violate the antitrust laws are efficient. Antitrust laws are designed to a. reduce utiliy rates b. In the United States, antitrust policies are mainly handled by the Federal Trade Commission. -Individuals and businesses have a right to sue alleged violators of Antitrust Law under Sherman and Clayton. (Section 3). They ensure that fair competition exists in an open-market economy. Yet for over 100 years, the antitrust laws have had the same basic objective: to protect the process of competition for the benefit of consumers, making sure there are strong incentives for businesses to operate efficiently, keep prices down, and keep quality up. Expert Answer. John Sherman, senator from Ohio. what are the requirements for proving section 2 violations? Wilson won, and ended up signing two major antitrust laws to supplement the existing Sherman Act: the Clayton Act and FTC Act. The general goal behind such a policy is to keep markets open and competitive. FTC vs. Superior Court Trial Lawyers Association, Dealt with horizontal price discrimination. Leegin Creative Leather Products, Inc. v. PSKS, Inc. division of market among competitors based on: United States v. Suntar Roofing, Inc. (1990), Suntar Roofing, Inc. and Ronan's Roofing, Inc. agreed to divide roofing customers in Kansas --> geographic, manufacturer tells retailer where they can sell product, restrictions on who can sell to, such as wholesaler only, 2 competitors agree not to deal with other competitors on the same level of competition. Sherman Antitrust Act. Arizona v. Maricopa County Medical Society (1982), NCAA v. Board of Regents of University of Oklahoma, Dr. The FTC's Bureau of Competition, working in tandem with the Bureau of Economics, enforces the antitrust laws for the benefit of consumers. Antitrust laws are statutes or regulations designed to promote free and open markets. -large this got, the easier to force competition out of the market. However, the law was so poorly worded that people weren't sure what the law was supposed to do. It was named for U.S. Sen. John Sherman of Ohio, who was an expert on the regulation of commerce. Sherman Antitrust Act, first legislation enacted by the U.S. Congress (1890) to curb concentrations of power that interfere with trade and reduce economic competition. What are the requirements of the Vertical Restraint Guidelines? what are the most important provisions of sherman? Section 1 Sherman: products and services, International Business Machines Corps. creation of the standard oil trust. what types of damages does clayton cover? Section 1: prohibits contracts, combinations and conspiraci…, required by plaintiff to prove defendant violated section 1 (c…, between firms at different levels of production or distributio…, cellophane fallacy. The public reaction was negative, so Congress passed the Interstate Commerce Act, directly outlawed anti-competitive practices that led monopolization, were groups of companies that agree to eliminate competition among them. Interstate Commerce Commission Act. These laws promote vigorous competition and protect consumers from anticompetitive mergers and business practices. Antitrust, observed the historian, once was the subject of a progressive movement in the U.S. that stirred public agitation and imagination, despite few antitrust prosecutions. The 1890 Sherman Antitrust Act made it a crime to monopolize industry. Tap card to see definition . Therefor, one should not exchange information if: Price Discrimination is handled by what laws? The main statutes are the Sherman Act of 1890, the Clayton Act of 1914 and the Federal Trade Commission Act of 1914. Previous question Next question. Antitrust Laws, which are commonly referred to as ‘Competition Laws’, were enacted in order to maintain a regulatory process with regard... Standard Parking Corp. to Reduce Interests in 29 Cities fire, security). What did congress pass to fill in the holes of Sherman? That means activities which are in the "flow" of trade across state lines or which affect this trade. The Sherman Antitrust Act was based on the constitutional power of Congress to regulate interstate commerce. This are rise to monopolies where only one seller dominates. Miles Medical Company v. John D. Park and Sons Company, 1911. Price fixing, pools, and cartels were commonplace. Horizontal Exchange of Information is subject to a high burden rule. when the manufacturer of a product tells the buyer that they must sell the product for a stated amount, Dr. Question: In The United States, Antitrust Laws Are Designed To: Encourage Monopolies Discourage Discrimination In The Workplace Compensate Workers For Employment-related Illnesses And Injuries Protect Big Business Interests Limit Anti-competitive Behavior. Industrial giants were free to form monopolies that drove out competition. Rule of Reason Violation Section 1 Sherman. The Clayton Act regulates general practices that may be detrimental to fair competition. If a supplier mergers with a retailer this would be a ? [W]hile technical economic discussion helps to inform the antitrust laws, those laws cannot precisely replicate the economists' (sometimes conflicting) views. Antitrust policies were laws developed by the US government to protect consumers from exploitive business practices. If Chrysler merged with General Motors, what type of merger would this be? The antitrust policy ensures … Leegin Creative Leather Products v. PSKS - Rule of reason Vertical Pricing. what did you have to prove under clayton? what did congress do as a result of the railroad trusts? what industry was dominated by trusts in the 1880s? designed to prevent and punish anti-competitive practices, dissolved oil trust in 1892, broken into various geographically based companies, dominated trusts, used market power ton increase price. Penalties under criminal sanctions per violation, -is dynamic it changes as business and society changes, Individuals and corporations having to do with bathroom fixtures, After 1929 Stock Market Crash, this company set a fixed price, when businesses operate at the same level and generally in same market, two or more firms in the distribution chain enter into contract to restrain trade, -when firms selling the same product agree to fix prices, it is almost certain in violation of Sherman act, United States v. Socony-Vacuum Oil Co., (1940), -Horizontal price fixing law for about 40 years, Arizona v. Maricopa County Medical Society (1982), -two medical societies formed two foundations for medical care as an alternative to existing health insurance plans, Federal Trade Commission v. Superior Court Trial Lawyers Association (1990). The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history. The Sherman Act proved to be ineffective due to . Both the Sherman Antitrust Act and the Clayton Act are federal laws. Antitrust laws were designed to protect and promote healthy competition within all sectors of the economy. See the answer. (IBM) v. United States, 1936, North Pacific Railway Company v. United States, 1958, government issued guidelines for tying arrangements, contracts under which a seller stops a buyer from purchasing the seller's competitors products, ability of one of more firms profitably to maintain prices above competitive for a significant period of time, percentage of relevant market controlled by the firm. Information about the Sherman Antitrust Act for kids, children, homework and schools. what section of Clayton discusses price discrimination? The Sherman Antitrust Act was designed to restrict business mergers. reduce the number of existing competitors, more like to lessen competition and be prohibited. Several states had passed similar laws, but they were limited to intrastate businesses. what is antitrust law designed … charge different buyers' different prices without justification. The primary concern in anti-trust law is.. Antitrust Law. general form of anticompetitive practices, deliberate actions by firms to harm their competitors rather than improving their own products and services, prevent and punish anticompetitive practices. 1. firm shown to acquire monopolistic power AND, punishing successful, anticompetitive attempts to create and sustain monopolies. If two totally unrelated companies want to merge this would be what type of merger? Reprinted from The Statutes at Large and Proclamations of the United States of America from December, 1889, to March, 1891, Vol. competition in the best option because can reduce profits, force costly change, and want to reduce competition. (For more background, see previous milestone documents: the Constitution, Gibbons v. Ogden, and the Interstate Commerce Act.) 4. The laws prohibit several practices that restrain trade, and they're necessary for a free and open marketplace. selling your product to one entity for once price and selling the same product to another entity for a different price. The Bureau of Competition has developed a variety of resources to help explain its work. This problem has been solved! The laws are designed to protect competition. Antitrust relates to laws and regulations that are designed to protect trade and commerce from unfair business practices that limit competition, or control prices. small business claim RPM helps them to compete with larger businesses. -where the companies become sole provider of a given good through superior and does not subvert the benefits of market competition, 1) must determine the relevant market - what is the product, product marketing, where is it sold, geographic market, Clayton Violation Area "Price Discrimination ", -charge different buyers different price without justification "Monopoly", seller requires a buyer to purchase a "tied" product as a condition of purchasing the desired tying product. File: Chapter 21 Antitrust Policy and Regulation Multiple Choice The Antitrust Laws [QUESTION] 1. Antitrust laws are statutes developed by governments to protect consumers from predatory business practices and ensure fair competition. To this day, antitrust law is based on these three acts. is per se illegal so long as it involves more than one company. Enacted in 1890, the Sherman Act had been the first federal law intended to protect consumers by outlawing monopolies, cartels, and trusts.The Clayton Act sought to enhance and address weaknesses in the Sherman Act by … Tap again to see term . Courts have applied the antitrust laws to changing markets, from a time of horse and buggies to the present digital age. Mergers and acquisitions are common, but federal authorities have acted against them on behalf of … Antitrust laws govern transportation, manufacturing, marketing, and distribution. If two companies want to merge that sell the same products in a different part of the country, what type of merger would this be? Lower taxes c. Create more jobs d. John D. Rockefeller. -proportion of the relevant market served by the largest firms in the market. - the attorneys who tookm appointed court cases belonged to a professional organization (NOT LABOR UNION) called the Superior Court Trial Lawyers Association. Miles Medical Company v John D. Park and Sons company (1911), one of the first supreme court on resale price maintenance (RPM). The seller has to have market power in the tying product. rule of reason violation of sherman section 1, legal and fair means a company becomes sole provider. outlaws trusts in the US and empowered the federal government to break up existing trusts, 1. did not protect consumers from anticompetitive practices, judges appointed by Republican big business leaning individuals. Laws and government actions designed to prevent monopoly and to promote competition are the focus of: A) Social regulation B) Industrial regulation C) Antitrust policy D) Incomes policy Answer: C Topic: The Antitrust Laws Difficulty: 1 Easy Learning Objective: 21-01 Bloom’s: Level … Published in 1891. Which of the following are exempt from Anti-Trust Law? Antitrust laws also referred to as competition laws, are statutes developed by the U.S. government to protect consumers from predatory business practices. The Clayton Antitrust Act of 1914, was enacted on October 15, 1914, with a goal of strengthening provisions of the Sherman Antitrust Act. exclusionary practices/exclusive dealings, one firm is given the exclusive right to buy, sell, or trade another's product, seller requires a buyer to purchase a "tied" product as a condition of purchasing the desired tying product, proportion of the relevant market served by the largest firms in the market, merger between firms that compete in the same market, 2 firms in same chain of production and distribution combine into one, 1. geographic market extension merger: same product, different locations, section 5 of Federal Trade Commission Act (FTCA), two federal regulatory agencies that enforce antitrust law, individuals and businesses can sue alleged violators, Department of Justice is the only one that can bring criminal cases. Click to see full answer. territorial restraints - manufacturer tells retailer where they can sell the product, -if boycott involves horizontal agreements among direct competitors, the rule is per se illegal, Clayton Section 2 always restricted price discrimination. US and EU antitrust laws cover most of the same subjects, rely on similar economic principles, and follow broadly similar conceptual approaches to topics such as cartels, mergers, joint ventures, and (a bit less so) monopolization (referred to as abuse of a dominant position or market power in the European Union). The Sherman Antitrust Act was a law passed by Congress in 1890 that was designed to combat the monopolies that were running rampant in American business. Click again to see term . Since 1890 the Sherman Antitrust Act has been the key law representing America's commitment to a free market economy. The Sherman Act, the Federal Trade Commission … -took over competitors. An antitrust policy is designed to affect competition. every person who shall monopolize or attempt to any part of trade or commerce, shall be deemed guilty of felony. Although "trust" had a technical legal meaning, the word was commonly used to denote big business, especially a large, growing … only horizontal merger not product extension merger. laws all contracts, combinations, and conspiracies that unreasonably restrain That’s where the Clayton Antitrust Act came in. historically included: price fixing, group boycotts refusal to deal, some market divisions.

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The NAACP has always been at the forefront of the fight against racial discrimination and economic inequality. Voting rights and the battles against voter suppression are just as important today as they were during the Civil Rights Movement. Health care, education, and economic opportunity need our action if they are ever to improve.

Help us win the fight.

ACT-SO Committee


ACT-SO (Afro-Academic, Cultural, Technological and Scientific Olympics) honors academic and cultural achievers at the same level as sports achievers. ACT-SO members recruit 9th through 12th grade students annually for an academic competition. The NAACP believes that African-Americans can succeed and compete at the same or superior levels as their counterparts in classrooms, boardrooms and laboratories throughout the world.

Chair: Avelina Holmes

Meeting Date & Time: Varies according to ACT-SO activity schedule

Armed Services & Veterans Affairs Committee


The Armed Services and Veterans Affairs Committee focuses on Armed Services and Veterans programs at the local, state and national levels to ensure they are administered fairly for minorities. The committee studies conditions pertaining to minorities and their families and handles discrimination complaints from members of the Armed Services and Veterans.

Chair: W. Clyde Lemon

Date & Time: 1st Monday, 12:00 pm via conference call

Communications Press & Publicity Committee


The Communications Press & Publicity Committee works to eliminate employment segregation and discrimination in the media industry. The members monitor local and national media including advertising, and promote the NAACP Houston Branch to gain favorable publicity in local newspapers, television and other media.

Chair: Linda Chandler Jacobs

Meeting Date & Time: TBD 2nd Tuesday 6:30pm @ NAACP

Community Coordination Committee


The Committee on Community Coordination enlists the support of other community organizations on issues affecting the interests of minority groups and the NAACP Houston Branch in order to increase membership and volunteer recruitment, build coalitions around common goals, and increase Freedom Fund sponsorship of and attendance.

Meeting Chair: Juli McShay

Date & Time: First Monday of the Month, 4:30 p.m.

Criminal Justice Committee


The Committee on Criminal Justice raises awareness about the inequities in the criminal and juvenile justice systems as well as some of the public misconceptions about the impact of recent “get tough” criminal policies on crime rate trends. Member work to increase minority participation in the Grand Jury system.

Chair: James Dixon, II

Meeting Date & Time: 1st Tuesday 6:30pm @ NAACP

Economic Development Committee


The Economic Development Committee implements local efforts and supports national programs that preserve and expand economic empowerment among minorities. The members promote business and home ownership, employment, and job creation.

Chair: Roger Harris

Meeting Date & Time: 2nd Monday 5:30pm @ NAACP

Education Committee


The Education Committee works to eliminate segregation and other discriminatory practices in public education. Members focus on educational conditions affecting minorities including dropout rates, school funding, attendance, parental involvement, standardized testing, and teacher certification.

Chair: Dr. Carolyn Evans -Shabazz

Meeting Date & Time: 1st Thursday 6:00pm @ NAACP

Environmental Climate Justice Committee


The Environmental and Climate Justice Committee raises awareness of environmental issues, climate change and energy reform policies, and the linkages between environmental quality and social justice. The members are active in the Coalition for Environment, Equity, and Resilience (CEER), a collaborative made up of nonprofit organizations who have committed to working together to advance an 8 point plan.

Chair: Jacqueline Smith

Meeting Date & Time: Meeting times vary according to the Environmental Climate activity schedule.

Freedom Fund Committee


The Freedom Fund Committee (FFC) is the fundraising arm for the NAACP Houston Branch. The Annual Freedom Fund Advocacy and Awards Dinner (FFAAD) is the primary fundraiser for the branch. The FFAAD is traditionally held on the 4th Friday of October. Proceeds from the event support the branch operations and advocacy programming for the branch. The FFC also assists the unit with securing funds for special advocacy projects and the capital improvement fund for the branch headquarters.

Chair: Argentina M. James

Meeting Date & Time: Varies according to Freedom Fund activity schedule.

Health Committee


The Health Committee is concerned with access to health care, health education, treatment and research, and sponsors health fairs and workshops highlighting important health issues for minorities.

Chair: Carol Moore

Meeting Date & Time: Varies according to Health activity schedule.

Housing Committee


The Housing Committee studies housing conditions and new financing methods to promote home ownership. The members oppose all restrictive practices whether public or private, and refer complaints of housing discrimination.

Chair: Belinda Everette

Meeting Date & Time: 1st Wednesday 12:30 pm @ NAACP

Labor & Industry Committee


The Labor & Industry Committee works to eliminate discriminatory employment practices in industry and government, wage differentials based on race, unequal opportunities for training and promotion, discriminatory practices in labor unions, and unfair dismissals.

Chair: John Bland

Meeting Date & Time: 3rd Wednesday 6:00pm @ NAAC

Legal Redress Committee


The Legal Redress Committee on Legal Redress investigates all cases reported to the NAACP Houston Branch, supervise all litigation in which the Branch is involved, and keeps the National NAACP and Branch informed on the progress of every case.

Co-Chair: Mary King, Esq. & Charles Livingston, Esq.

Legal Clinics: 3rd Saturday of each month, 9am-2pm

Membership & Life Membership Committee


The Membership & Life Membership Committee works to increase membership by organizing campaigns, soliciting new members and renewals, and encouraging life memberships.

Chair: Mable Caleb

Meeting Date & Time: TBD 2nd Tuesday 5:30pm @ NAACP

Political Action Committee


The Political Action Committee focuses on voter registration and election turnout as well as legislation designed to improve the educational, political and economic status of minority groups. Members monitor proposed legislation and seeks the repeal of racially discriminatory laws. The Committee is non-partisan and does not endorse candidates for public office.

Chair: Claude Cummings Jr.

Meeting Date & Time: 2nd Monday 6:00pm @ NAACP

Religious Affairs Committee


The Religious Affairs Committee uses an educational program designed to give moral and ethical interpretation to the civil rights struggle and conveys this message to religious groups of all faiths. Members seek the support of religious groups for membership and fund raising.

Chair: Bishop Johnny Tates

Meeting Date & Time: TBD

WIN (Women In the NAACP) Committee


The WIN Committee supports social justice issues affecting women by serving as an advocacy vehicle for social, economic, political, educational and health and welfare issues affecting women.

Co-Chair: Sylvia Donahue- McCarter

Meeting Date & Time: 2nd Wednesday 6:30pm @ NAACP

Young Adult Committee


The Young Adult Committee works with the Membership Committee to solicit memberships of individuals 21-40 years of age, and maintain a mentorship program that is a support bridge from youth and college to NAACP Houston Branch participation. Also provide networking and social opportunities for young adults.

Chair: Porschia Harris & Cha’Mira Keener

Meeting Date & Time: 1st Thursday 6:30pm @ NAACP

Youth Works Committee


The Youth Works Committee collaborates with the national NAACP to recognize exemplary youth, develop programs and activities consistent with the Association’s policies and mission for youth groups.

Chair: Avelina Holmes

Meeting Date & Time:Varies according to ACT-SO activity schedule