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Question & Answer
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To promote competition by prohibiting monopolies
To limit government intervention in the economy
To regulate prices of goods and services
To provide subsidies to small businesses
Understanding the Answer
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The law was made to stop one company from owning all the supplies for a product, so many firms can compete. Other options are incorrect because Some think it reduced the government's role, but actually the Act gave the government power to break up big companies; The Act does not set prices directly.
Key Concepts
Sherman Antitrust Act
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Deep Dive: Sherman Antitrust Act
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Definition
The Sherman Antitrust Act was a landmark legislation in the late 19th century aimed at curbing the growth of monopolies and trusts that were stifling competition in the marketplace. It signaled a shift towards government intervention to promote fair competition and prevent the abuse of economic power by large corporations.
Topic Definition
The Sherman Antitrust Act was a landmark legislation in the late 19th century aimed at curbing the growth of monopolies and trusts that were stifling competition in the marketplace. It signaled a shift towards government intervention to promote fair competition and prevent the abuse of economic power by large corporations.
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