Laws Designed to Prevent Monopoly and Promote Competition Are Known

question 221

Multiple Choice

Laws designed to prevent monopoly and promote competition are known as

• A) antitrust laws.
• B) statutory amendments.
• C) fair-pricing legislation.
• D) breakup bills.

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Definitions:

Trade

The exchange of goods, services, or both between parties, which can occur domestically or internationally.

Perfectly Competitive Market

A market structure characterized by many sellers and buyers, homogeneous products, and the free entry and exit of firms, leading to efficient outcome prices.

Society

A group of individuals living together in a more or less ordered community, often sharing common cultural and social norms.

Public Park

An area of natural, semi-natural, or planted space set aside for human enjoyment and recreation or for the protection of wildlife or natural habitats.