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What term is used to defin an agency that regulates business?
Commission is used to define an agency that regulates business. The Federal Trade Commission is the governmental agency which regulates business. The Federal Trade Commission was established in 1914 by President Woodrow Wilson. It was established for consumer protection and the elimination and prevention of anticompetitive business practices. The FTC is still in operation today and protects consumers against unfair or deceptive acts or practices in commerce.
Which among the following Acts bans the practice of requiring a customer to purchase a second good?
The practice of requiring a customer to purchase a second good is banned under the Clayton Act, specifically through its provisions against tying arrangements. This Act aims to promote fair competition and prevent monopolistic practices by prohibiting certain types of exclusive agreements and unfair trade practices.
Match each type of unfair business practice with its description (apex)?
1.Vendor lock in: a company say a wide range of product can be used with its products but this is not true. Price fixing: a group of companies agree that all of them will charge the same price. 3.Predatory pricing: a large company charges a price below production cost in order to eliminate small competitors.
Which term best describes wealthy business owners who often engaged in unfair or anti competitive business practices?
Robber Barron
Which term best describes wealthy business owners who often engaged in unfair anti-competitives business practices?
Robber Barron
Why do deceptive and unfair trade practice laws apply to insurance agents?
Deceptive and unfair trade practice laws apply to insurance agents to protect consumers from fraud and ensure fair business practices.
Difference between unfair trade practice and restrictive trade practice?
Unfair trade practice" as per Section 2(r) means a trade practice which, for the purpose of promoting the sale, use or supply of any goods or for the provision of any service, adopts any unfair method or unfair or deceptive practice, while "restrictive trade practice" means a trade practice which tries to manipulate the price or conditions of delivery to affect flow of supplies in the market relating to goods or services in such a manner as to impose on the consumers unjustified costs or restrictions [as per section 2(nnn)].
What has the author Colin Lockhart written?
Colin Lockhart has written: 'The law of misleading or deceptive conduct' -- subject(s): Competition, Unfair, Consumer protection, Deceptive advertising, Law and legislation, Unfair Competition
What piece of legislation outlawed unfair methods of competition and unfair or deceptive acts and practices?
Federal Trade Commission Act
What US institution is responsible for regulating deceptive and unfair marketing campaigns?
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Who is responsible for preventing unfair false or deceptive advertising packaging and selling of consumer products?
federal trade commission
Why consumer protection is necessary?
Consumer protection is necessary to ensure that consumers are not exploited or harmed by businesses through deceptive practices, unfair terms, or unsafe products. It helps to balance the power dynamic between businesses and consumers, promoting trust and transparency in the marketplace. Ultimately, consumer protection safeguards individuals from being taken advantage of and promotes fair competition.
How can a consumer protect himself or herself against unfair and deceptive sales practices?
A consumer can protect his /herself against unfair practices by seeking redress, knowing his/her consumer rights and being informed
Who wrote about unfair practice in the oil industry?
Muckrakers
Which law protects small businesses from unfair pricing practices?
Clayton Act
What unfair business practice do cartel use?
price fixing
What led to government regulation of businesses during the gilded age?
unfair business practices
