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Flashcards in Chapter 7- Section 3 Deck (17)
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What was the antitrust legislation of the late 1800s trying to restrict?

Monopolies, combinations, and trusts


What was the purpose of the Sherman antitrust act?

To restrict monopolies and protect trade and commerce


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)


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


The practice of charging customers different prices for the same product

Price discrimination


Under what conditions are monopolies acceptable?

Natural and government regulated as if there were competition


What is the purpose of public disclosure?

To preserve competition and provide more information to the consumer


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

Consumers know what they are buying


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

Price earnings, reports, government documents, and studies


What actions led to a modification of free enterprise?

Regulating market sectors


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

Regulating market failures


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

The Federal Trade Commission


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

Occupational safety and health administration


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

Federal Communications Commission


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


Protects and enhances the environment

Environmental Protection Agency


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

Securities and exchange commission