Competition Law and Antitrust Measures Quiz
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Questions and Answers

Which term is commonly used to describe the act of pushing for antitrust measures or attacking monopolistic companies?

  • Antitrust law
  • Trust busting (correct)
  • Market competition
  • Competition law
  • Which two systems of competition regulation are considered the largest and most influential?

  • Roman Empire competition law and European Union competition law
  • United States antitrust law and Roman Empire competition law
  • United States antitrust law and trade practices law
  • United States antitrust law and European Union competition law (correct)
  • What is the term used to describe the business practices of market traders, guilds, and governments being subject to scrutiny and sometimes severe sanctions?

  • Competition law (correct)
  • Antitrust law
  • Extraterritorial jurisdiction
  • Trade practices law
  • Which organization was created in 1994 with the conclusion of the Uruguay Round of GATT multilateral negotiations?

    <p>World Trade Organization (WTO)</p> Signup and view all the answers

    What are the three main elements of competition law (antitrust law)?

    <p>Prohibiting agreements that restrict free trading and competition, banning abusive behavior by a dominant firm, supervising mergers and acquisitions</p> Signup and view all the answers

    What is the purpose of competition law?

    <p>Protecting the interests of consumers and ensuring entrepreneurs have an opportunity to compete</p> Signup and view all the answers

    What was the penalty for violating a tariff system under the edict imposed by Diocletian in 301 A.D.?

    <p>Death penalty</p> Signup and view all the answers

    Which king introduced the Statute of Labourers in 1349?

    <p>King Edward III</p> Signup and view all the answers

    What did the Statute of Labourers of 1349 state about overcharging merchants?

    <p>They must pay the injured party double the sum he received</p> Signup and view all the answers

    Who passed a law in the Holy Roman Empire to prevent losses resulting from monopolies and improper contracts?

    <p>Emperor Charles V</p> Signup and view all the answers

    What system of licenses, similar to modern patents, was introduced into England in 1561?

    <p>Industrial Monopoly Licenses</p> Signup and view all the answers

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