Sherman Antitrust Act: Passed in 1890, this federal law prohibits certain business activities that restrict competition and aims to preserve economic fairness.
Clayton Antitrust Act: Enacted in 1914, this law further strengthened anti-monopoly regulations by prohibiting specific conduct such as price discrimination and exclusive dealing.
Monopoly Power: Refers to a company's ability to control or dominate a particular market, often resulting in limited competition and potential harm to consumers.