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) (B)</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 (B)</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 (A)</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 (A)</p> Signup and view all the answers

Which king introduced the Statute of Labourers in 1349?

<p>King Edward III (B)</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 (A)</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 (C)</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 (C)</p> Signup and view all the answers

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