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6 Cards in this Set
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Sherman anti trust act |
The Sherman Antitrust Act (Sherman Act,26 Stat. 209, 15 U.S.C. §§ 1–7) is a landmark federal statute in the history of United States antitrust law (or "competition law") passed by Congress in 1890. |
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horizontal integration |
In business, horizontal integration is a strategy where a company creates or acquires production units for outputs which are alike - either complementary or competitive. One example would be when a company acquires competitors in the same industry doing the same stage of production for the creation of a monopoly. |
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Vertical integration |
In microeconomics and management, vertical integration is where the supply chain of a company is owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It is contrasted with horizontal integration. |
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Social Darwinism |
Social Darwinism is a modern name given to various theories of society that emerged in the United States and Europe in the 1870s, and which sought to apply biological concepts of natural selection and survival of the fittest to sociology and politics. |
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monopoly |
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trust |
A legal arrangement grouping together a number of company's under a single board or director. |
