Antitrust Laws Flashcards
___ laws prohibit monopolies, collusion, and any contracts, combinations, and conspiracies that unreasonably restrain trade.
Antitrust
___ laws prohibit acts that interfere with the free flow of goods and services in a competitive marketplace
Antitrust
What are the 5 most common antitrust violations?
Price fixing
Group boycotting
Allocation of customers
Allocation of markets
Tie in agreements
The illegal act of setting prices for products or services rather than letting competition in the open market establish those prices is called ___.
Price fixing
___ occurs when competing real estate companies agree to set standard sales commissions, fees, or management rates, or if they attempt illegal tying arrangements.
Price fixing
___ must independently establish any minimum commission rates or minimum fee based on their own business judgement and revenue requirements without any input from ___.
Real estate companies
competitors
___ occurs when two or more businesses conspire against another business or agree to withhold their patronage in order to reduce competition
Group boycotting
___ involves an agreement among real estate companies to divide their markets and refrain from competing for each other’s business
Allocation of customers or markets
Brokerage A and Brokerage B signed a contract with each other. The contract stated that only Brokerage A may conduct real estate services in Evanston, and that only Brokerage B may conduct real estate services in Skokie. What antitrust violation has occurred?
Allocation of customers or markets
___ are agreements to sell one product only if the buyer purchases another product as well
Tie in agreements
Saying or writing derogatory or dismissive content, or false statements about a competitor is called ___.
Disparaging the competition
Penalties for antitrust law violations are determined by the ___.
Sherman Antitrust Act
