Regulation of Business Employment, Environment and Antitrust Flashcards Preview

Regulation > Regulation of Business Employment, Environment and Antitrust > Flashcards

Flashcards in Regulation of Business Employment, Environment and Antitrust Deck (34):
1

Age Discrimination in Employment Act

prohibits discrimination against people who are 40 and older

2

Americans with Disabilities Act

prohibits discrimination against differently abled persons (both physical and mental)

3

Bona fide occupational qualification

employer's defense to a claim of employment discrimination based on Title VII

4

Consolidated Omnibus Budget Reconciliation Act

Allows former employees, at their own expense, to continue coverage of their group health plan for up to 18 months after losing their job

5

Employee Retirement Income Security Act

regulates company pension plans

6

Fair Labor Standards Act

regulates minimum wage, employment hours and child labor

7

Family and Medical Leave Act

allows employees to take up to 12 weeks of unpaid leave to deal with family and medical issues

8

Federal Insurance Contributions Act

Law that requires employers and employees to each pay half of the social security tax.

9

Federal Unemployment Tax Act

provides temporary payments to workers who have lost their jobs through no fault of their own

10

National Labor Relations Act

regulates union/management relationship

11

Occupational Safety and Health Act

creates workplace standards for health and safety

12

Social Security Act

provides income/benefits to retirees, disabled workers, and dependents of deceased workers

13

Title VII of the 1964 Civil Rights Act

prohibits discrimination on the basis of race, color, religion, national origin, or gender in all aspects of employment

14

Worker's compensation

provides payments to workers for injuries that are sustained at work or that arise out of work. No-fault system

15

Clean Air Act

Establishes air quality standards that states enforce

16

Clean Water Act

Establishes water quality standards that states enforce

17

Comprehensive Environmental Response, Compensation, and Liability Act

creates a strict liability system for the cleanup of hazardous waste sites and spills

18

Environmental compliance audit

voluntary review by a company to ensure that it is in compliance with the various environmental laws

19

Environmental impact statement

report required for any federal action that will significantly impact the environment

20

Environmental Protection Agency

Primary enforcer and administrator of environmental laws and regulations

21

State implementation plan

submitted by state to show the EPA how the state will achieve the environmental standards set by the EPA

22

Horizontal restraint

agreement among competing economic entities that limits competition

23

Merger

Two separate economic entities that combine into one company. Mergers that result in a substantial lessening of competition violate antitrust laws

24

Monopolization

when a firm has a monopoly power in the relevant market and keeps others out of the market through methods other than legitimate competition

25

Monopoly power

Firm has ability to exclude competitors and control prices in the relevant market

26

Per se rule

applies to inherently anticompetitive activities that are automatically illegal

27

Price discrimination

sellers charging different buyers different prices for the same product

28

relevant market

meaningful areas of competition, both geographically and by product

29

Restraint of trade

agreement that limits competition

30

rule of reason

balances the procompetitive effects of a Restraint of Trade agreement versus the anticompetitive effects

31

Treble damages

one of the remedies for a private party who successfully proves an antitrust violation; party receives three times its actual damages

32

Tying arrangement

seller of a desired product forces a buyer to purchase an additional product if the buyer want the desired product

33

Vertical restraint of trade

agreement between separate economic entities in the chain of distribution that limits competition

34

Title VII

Portion of the Civil Rights Act that forbids discrimination in employment on the basis of race, color, religion, sex or national origin