In …............... , the Sherman Antitrust Act became the first legislation passed by the United States Congress to limit monopoliesa.1870b.1890c.1892d.1987
Question
In …............... , the Sherman Antitrust Act became the first legislation passed by the United States Congress to limit monopolies.
a. 1870
b. 1890
c. 1892
d. 1987
Solution
The correct answer is b. 1890.
The Sherman Antitrust Act was enacted by Congress in 1890 as a response to growing concerns about the negative effects of monopolies and corporate trusts on competition and the economy. This legislation was groundbreaking in establishing the federal government's authority to regulate anti-competitive practices and to promote fair competition. It made it illegal to restrain trade or commerce among the several States or with foreign nations and prohibited monopolies from forming. The Act aimed to prevent companies from engaging in practices that would unfairly stifle competition, thus benefiting consumers through better prices and greater choices in the market. The successful enforcement of this Act laid the foundation for later antitrust laws and regulatory measures.
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