Defining the Market
Learn about the markets affected by restrictive conduct.
In this lesson, we’ll learn about the markets affected by restrictive conduct.
I. Defining the Market
Section 1 of the Sherman Act prohibits “[e]very contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade. . . .” This broad prohibition applies to dealings between competitors who, for example, collude to fix prices or to prevent the entry of new competitors into the market.