Chapter 7- Section 3 Flashcards Preview

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Flashcards in Chapter 7- Section 3 Deck (17):
0

What was the antitrust legislation of the late 1800s trying to restrict?

Monopolies, combinations, and trusts

1

What was the purpose of the Sherman antitrust act?

To restrict monopolies and protect trade and commerce

2

What was the purpose of the Clayton antitrust act of 1914?

It gave the government greater power against monopolies (no price discrimination, FTC made, cease and desist order)

3

And FTC ruling requiring a company to stop and unfair business practice, such as price-fixing, that reduces or limits competition among firms

A cease and desist order

4

The practice of charging customers different prices for the same product

Price discrimination

5

Under what conditions are monopolies acceptable?

Natural and government regulated as if there were competition

6

What is the purpose of public disclosure?

To preserve competition and provide more information to the consumer

7

What is the advantage to the public of truth in advertising laws?

Consumers know what they are buying

8

What kind of information regarding business and government is available on the Internet?

Price earnings, reports, government documents, and studies

9

What actions led to a modification of free enterprise?

Regulating market sectors

10

What characteristics make the United States economy a "mixed free enterprise" system?

Regulating market failures

11

Administers antitrust laws for bidding unfair competition, price-fixing, and other deceptive practices

The Federal Trade Commission

12

Investigates accidents at the workplace; enforces regulations to protect employees at work

Occupational safety and health administration

13

Licenses and regulates radio and television stations and regulates interstate telephone, telegraph rates and services

Federal Communications Commission

14

Enforces laws to ensure purity, effectiveness, and truthful labeling of food, drugs, and cosmetics; inspects production and shipment of these products

Food and drug administration

15

Protects and enhances the environment

Environmental Protection Agency

16

Regulates and supervises the sale of listed and unlisted securities and the brokers, dealers, and bankers who sell them

Securities and exchange commission