The Sherman Antitrust Act: Eliminates Unfair Monopolies

             1. The Sherman Antitrust Act is most directly associated with the competitive, economic, and legal environmental forces. The Act was established in response to businesses in the late 1800s that formed trusts, or "anti-competitive agreements" that allowed them to gain market dominance by cutting their prices drastically and forcing other competitors out of business ("The Sherman Antitrust Act"). These trusts accomplished this either by buying out competitors, forcing them to sign long-term contracts, or making them buy unwanted products in order to receive goods that they did want ("The Sherman Antitrust Act"). When the Sherman Antitrust Act was passed in 1890, it outlawed trusts and prohibited illegal monopolies that could be used to eliminate competition ("The Sherman Antitrust Act"). From the standpoint of competition, the Act protects fair competition and eliminates unfair monopolies. From the standpoint of economics, since the Act eliminates monopolies, it keeps pricing more fair. Monopolies can charge whatever they want, since they are the only source of a product, but in an economy without monopolies, fair competition is part of what determines the price of a product. The Sherman Antitrust Act should also be considered a legal force, since as a legal entity, the Act exerts its control through legal channels. It is the law that enforces the Act, and any violation of it is addressed through legal channels.
             2. Technology could be used to make many products more elderly-friendly. Many elderly people have difficulty seeing things in low light, for example. They are unable to read the keys on a dark keyboard or the hands on a dark-faced watch in a dimly lighted room. Manufacturers could address this problem using the same technology that is utilized to make the "Indiglo" watches that Timex puts out. When the stem of an Indiglo watch is pressed, the entire watch dial lig...

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The Sherman Antitrust Act: Eliminates Unfair Monopolies. (1969, December 31). In MegaEssays.com. Retrieved 22:51, September 20, 2024, from https://www.megaessays.com/viewpaper/202409.html