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

question 34

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 clam that business was good for the country and that they should trusted.

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Definitions:

Drug Standards

Official specifications concerning the quality, strength, purity, and identity of medications, enforced to ensure their safety and efficacy.

National Formulary

A list of medicines and drugs that are approved for use, often by a government or professional body.

Antihypertensive

A medication or other therapy that lowers high blood pressure, also called hypertension.

Blood Pressure

The force exerted by circulating blood upon the walls of blood vessels, a critical parameter in assessing cardiovascular health.