Government passed the _________________ to limit the power of large, consolidated firms that were run by trustees as if they were a single firm.

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28-07-2022
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Government passed the _________________ to limit the power of large, consolidated firms that were run by trustees as if they were a single firm.

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tutorconsortium206 tutorconsortium206 · Answer 1 · 2022-08-04T20:21:53+02:00

The government passed the Sherman Act in 1890 to limit the power of large, consolidated firms that were run by trustees as if they were a single firm.

The Sherman Antitrust Act: What Is It?

An important American statute known as the Sherman Antitrust Act forbade firms from collaborating or merging to create monopolies. The law, which was passed in 1890, forbade these organizations from dictating, governing, and manipulating pricing in a certain market.

While regulating interstate trade, the act attempted to encourage economic justice and competitiveness. The Sherman Antitrust Act was the U.S. Congress' initial effort to deal with the use of trusts as a technique that allows a select few people to dominate a select few critical sectors.

Learn more about the Sherman Antitrust Act with the help of the given link:

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