The Primary Criterion Governing U

question 96

Multiple Choice

The primary criterion governing U.S. antitrust policy until 1945 was:

• A) laissez-faire.
• B) concentration ratios.
• C) judgment by performance.
• D) judgment by structure.

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Definitions:

Labor Cost

The total expense incurred by employing labor, including wages, salaries, and benefits.

Private Enterprise System

A private enterprise system is an economic system where private individuals or businesses own and operate the means of production and distribution of goods and services.

Fair Competition

refers to a marketplace where businesses operate under rules that prevent monopolies and ensure equal opportunities for all participants.

Factor Payment

Financial compensation given to the factors of production—namely labor, capital, and resources.