The Sherman Act and the Clayton Act

question 52

Multiple Choice

The Sherman Act and the Clayton Act:

• A) were intended to protect small producers.
• B) were aimed at efforts to restrain trade or lessen competition.
• C) were passed before the Depression of the 1930s.
• D) All of these are correct.

Grasp the economic implications of innovation and diffusion in the marketplace.

Understand the distinction between invention, innovation, and diffusion.

Recognize examples of product and process innovation.

Identify the role of research and development in the innovation process.