Section 1 of the Sherman Antitrust Act Declares What to Be

question 161

Multiple Choice

Section 1 of the Sherman Antitrust Act declares what to be illegal?

• A) every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations
• B) mergers of a horizontal nature
• C) any attempt to monopolize an industry
• D) sharing of technology among competing firms or mergers where the effect is to lessen competition
• E) exiting an industry if the remaining firm or firms have a market share that is too large.

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Definitions:

Liabilities

Financial obligations or debts owed by a business to another entity, payable in money, goods, or services.

Notes Payable

Refers to promissory notes a company issues, promising to pay a specific amount of money at a future date.

Salaries

Regular payments made to employees for their services, often expressed as an annual amount but payable in smaller increments such as monthly or biweekly.

Accounts Payable

Obligations owed by a company to suppliers or creditors for goods and services received but not yet paid for.