Chapter 16

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Author:
Ladybird1106
ID:
301271
Filename:
Chapter 16
Updated:
2015-04-21 22:40:35
Tags:
Regulating Competition Antitrust Laws
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Vocabulary
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  1. Trust
    504
    A trust is a fiduciary relationship concerning property in which one person, known as the trustee, holds legal title to property for the benefit of another, known as the beneficiary.
  2. The Sherman Act 1890
    504
    Congressional enactment designed to regulate anticompetitive behavior in interstate commerce.
  3. Monopoly
    506
    A conspiracy to monopolize requires proof of specific intents to monopolize and at least one overt act to accomplish it.
  4. Being guilty of monopolization
    When it acquires or maintains monopoly power by a course of deliberate conduct that keeps other firms from entering the market or from expanding their share of it.
  5. Restraint of trade
    506
    Monopolies, combinations, and contracts that impede free competition. If I buy from you, you have to buy from my friend.
  6. Horizontal Price Fixing
    517
    Agreement between competitors to fix prices.
  7. Vertical Price Fixing
    517
    Agreement between a seller and buyer to fix the resale price at which the buyer will sell the goods.
  8. Reciprocal dealing
    533
    Agreement exists when two parties face each other as both buyer and seller.
  9. Exclusive dealing
    533
    Contract contains a provision that one party or the other (buyer or seller) will deal only with the other party.
  10. Requirements contract
    533
    A buyer agrees to purchase all of its needs of a given contract from the seller during a certain period of time.
  11. Blank
    Blank
  12. Clayton Act 1914
    Exempts labor unions front the Sherman Act. The law expanded the national antitrust colicky to cover price discrimination, exclusive dealings, tying contracts, mergers, and interlocking directors.
  13. Federal Trade Commissions Act
    505
    An independent administrative agency charged with keeping competition free and fair.
  14. Affirms guilty
  15. Predatory Conduct
    507
    Business for the purpose of driving out competitors, for keeping them out, or for making them less effective.
  16. Rules of Reason
    • The rule of reason
    • Per se illegality
  17. Predatory Pricing
    512
    It is a crime for a seller to sell either at lower prices in one geographic area than elsewhere in the United States to eliminate competition or a competitor, or an unreasonably low prices to drive out a competitor.

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