The point of the 1890 Sherman Act was to
A) nationalize industries where economies of scale were especially important.
B) prevent monopoly practices and promote commercial competition.
C) make rent seeking through lobbying of public officials illegal.
D) forbid states from imposing import tariffs on other states.
E) establish patents and copyrights as ways to protect creative activity.

Question

Quizplus · Accepted Answer

The 1890 Sherman Act was aimed at preventing monopoly practices and promoting commercial competition. Its purpose was to break up and prevent the formation of monopolies and trusts that had become increasingly common in the late 19th century. The act prohibited certain business activities that were deemed anti-competitive, such as price-fixing, market allocation, and exclusive dealing agreements. Its goal was to maintain a competitive marketplace and prevent any one company or group from dominating a particular industry.

The Point of the 1890 Sherman Act Was to