Chapter 6 Terms

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1887 Interstate Commerce Act
Established the ICC (Interstate Commerce Commission) - monitors the business operation of carriers transporting goods and people between states - created to regulate railroad prices
1890 Sherman Antitrust Act
Prohibit monoploies and agreements that restrict competition
1914 Clayton Antitrust Act
Prohibits price discrimination and mergers that limit competition
1914 Federal Trade Commission Act
Gave the FTC the authority to issue a " cost and desire order" requiring companies to stop unfair business practice that limit competition
1936 Robinson-Patman Act
Protects small retail businessses by prohititing wholesalers from charging small retailers higher proces than they charged large retailers and by prohibiting large retailers from setting artificially low prices
1950 Celler-Kefauver Act
Amended the Clayton Act to prohibit corporate acquisitions when they substantially decrease competition
1975 Antitrust Procedures and Penalties Act
Increased penalties for violating antitrust laws
1976 Parens Patriae Act
Gives states the right to sue companies on behalf of citizens harmed by the company's antitrust violations