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Unit 12 Anti trust
Terms in this set (22)
What is an anti trust law?
a series of laws passed by the U.S. congress designed to promote free competition
What is the goal of anti trust laws?
to protect consumers by promoting competition in the market place
what does the sherman act of 1890 state?
that it is illegal for competitors to make agreements with each other that would limit competition
What does the clayton act of 1914 state?
it is designed to go after businesses that were forwarding competition
What is the federal trade commission act of 1914?
power to regulate unfair methods of competition
are per se practices legal or illegal?
what is the rule of reason?
"is it a good business practice?"
If the benefits outweigh the affects then the practice will be lawful
what must occur for two companies to be competitors?
they must operate in the same product and geographic markets
what are some key exemptions from antitrust laws?
labor (work), insurance, professional baseball, lobbying, regulated industries (ex. alabama power)
what is it called when two competitors merge?
a horizontal merge
a supply chain involves what kind of merge?
a vertical merge
a seller tells you that you can buy product 1 without also buying product 2
when a seller says "you can only deal/do business with me"
is the rule of reason legal or illegal?
is per se always legal or illegal?
a dominant buyer is
boycotting a particular type of customer is called?
a group boycott
when a business wont take certain types of customers it is called
a unilateral refusal to deal
when competitors agree to divide customers it is called?
a horizontal market division (evaluated using per se)
when a business will only sell "x" item to a certain type of person
clayton and sherman act violation
what is it called when a when a manufacturer tells the retailor what price to charge?
a price mantinence agreement (rule of reason)
a dominant seller sells what percentage or more of a product market in a geographic market?
70% or more
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