Lesson 465 of 1524
Unfair Trade Practices and the Federal Trade Commission
The FTC was created in 1914 to address the problem of monopolies and trusts.
Practice this chapterThe FTC was created in 1914 to address the problem of monopolies and trusts. Following the Civil War, a wave of consolidation and growth among companies triggered increased public debate.
Through handshake agreements, issuance of stock, and pooling arrangements, companies could fix prices and outputs, thus effectively stopping competition and raising consumer prices. A substantial number of mergers gave control over key industries to small groups of businesses.
Be able to analyze laws pertaining to unfair trade practices and the agency that scrutinizes them.
Worked example
What does this chapter state?
- 1The FTC was created in 1914 to address the problem of monopolies and trusts.
- 2That claim is the chapter’s own statement.
- 3Answer from the claim, not from where the chapter sits in the book.
Result: The FTC was created in 1914 to address the problem of monopolies and trusts.
Why. The sentence is taken from this chapter’s summary or key concepts.
Answer with the meaning this chapter gives. A nearby idea from the same book is a different term.
Practice margin
This chapter
A fresh set from this chapter only. Choose 10 or 20. Multiple choice and fill-in, with no repeat inside the set.