COM 107 Study Guide - Midterm Guide: Clayton Antitrust Act, Sherman Antitrust Act, Federal Communications Commission
14 Nov 2016
School
Department
Course
Professor
Document Summary
Monopoly: one company controls productions and distributions in a particular industry i. e. microsoft being called a monopoly in 2002 because almost all computers came with microsoft software installed, good for business, bad for consumers. Businesses can jack up prices and consumers have to comply because there"s nowhere else to buy the product: a select few firms dominate an industry. Oligopoly i. e. the big media 6 (6 studios/conglomerates owning 90% of all media in the us market) Limited competition: lots of producers and sellers but a limited offering of products. Sherman anti-trust act: best products available at the best cost for consumers, makes monopolies illegal. Clayton anti-trust act: price discrimination: working to restrict price changes, no supermergers (cid:523)two medium/big companies can"t come together to form a super big, dominant one) Celler-kefauver act: limited corporation mergers that would affect competition, mostly concerned vertical mergers (merging companies that specialize in different aspects of production)
