Why Are Laws Aimed at Regulating Monopolies Called "Antitrust" Laws

question 84

Multiple Choice

Why are laws aimed at regulating monopolies called "antitrust" laws?

• A)The rise of large firms (e.g., Standard Oil)in the late 1800s in the United States caused consumers to lose trust in private business.
• B)"Trust" was a word in Old English that meant monopoly in the Middle Ages. Therefore, "antitrust" is a term that means "against monopoly."
• C)In the late 1800s, firms in several industries formed trusts; the firms were independent but gave voting control to a board of trustees. Antitrust laws were passed to regulate these trusts.
• D)In the late 1800s, firms in several industries formed trusts; they were called "trusts" because when corporate officials were questioned about their business they would claim that business was good for the country and that they should trusted.

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Definitions:

Global

Pertaining to or involving the entire world, often in context of business operations, concerns, or impacts that are worldwide in scope.

Culture Shock

A feeling of confusion, doubt, or nervousness caused by being exposed to an unfamiliar culture or environment.

Alienation

A condition in social relationships characterized by a low degree of integration or common values and a high degree of distance or isolation.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a feeling of contempt for other cultures.