BUSN-115 Week 3 Assignment
BUSN-115 Week 3 Assignment
Robert F. Adams
DeVry University
Abstract
The purpose of this paper is to answer the provided prompt from my instructor completely and satisfactorily. This prompt is: “The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not?” I will address a few topics and attempt to support my position with supporting facts found from reliable academically appropriate sources.
BUSN-115 Week 3 Assignment The United States of America has many laws to promote a fair, balanced, and competitive environment for businesses. This is partially accomplished through the Federal Trade Commission’s …show more content…
The first antitrust law, the Sherman Act, was passed in 1890 and together with a pair of laws passed in 1914, the Federal Trade Commission Act and the Clayton Act, forms the core antitrust laws still in effect today. The Sherman Act outlaws monopolization, attempted monopolization, or conspiracy or combination to monopolize, as well as, restraint on trade. It was ruled by the Supreme Court that not all restraint on trade is outlawed, only unreasonable restraint on trade. Examples of this would be price fixing or the rigging of bids. The Federal Trade Commission Act of 1914 established the Federal Trade Commission, but it also provided further antitrust guidance. The FTC Act supports the Sherman Act and provides room for further prosecution of those who violate the Sherman Act. Additionally it “…also reaches other practices that harm competition, but that may not fit neatly into categories of conduct formally prohibited by the Sherman Act.” 2 The only cases brought under the FTC Act are done so by the …show more content…
This is also very infuriating to many consumers. For example, you may look at your water bill, see that you’re getting hit with only the minimum charge, and it still seems high. If this was the case with your cable bill, you could do something about it. Sometimes it only takes the threat or possibility of leaving for another company to bring prices down, as in telling the cable company you will be moving to a satellite company due to the rate difference. With you water bill, from the beginning of this example, you don’t have that choice. The only alternative you have is to pay a very large sum of money to have a well drilled, bring in the equipment to use the well, such as the pump and filtration equipment, and have a septic tank installed. Following this, you then would have to get your house plumbing rerun from the company lines to your newly installed system. If you are a renter, then this option is usually not only not viable, but more than likely not
Robert F. Adams
DeVry University
Abstract
The purpose of this paper is to answer the provided prompt from my instructor completely and satisfactorily. This prompt is: “The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not?” I will address a few topics and attempt to support my position with supporting facts found from reliable academically appropriate sources.
BUSN-115 Week 3 Assignment The United States of America has many laws to promote a fair, balanced, and competitive environment for businesses. This is partially accomplished through the Federal Trade Commission’s …show more content…
The first antitrust law, the Sherman Act, was passed in 1890 and together with a pair of laws passed in 1914, the Federal Trade Commission Act and the Clayton Act, forms the core antitrust laws still in effect today. The Sherman Act outlaws monopolization, attempted monopolization, or conspiracy or combination to monopolize, as well as, restraint on trade. It was ruled by the Supreme Court that not all restraint on trade is outlawed, only unreasonable restraint on trade. Examples of this would be price fixing or the rigging of bids. The Federal Trade Commission Act of 1914 established the Federal Trade Commission, but it also provided further antitrust guidance. The FTC Act supports the Sherman Act and provides room for further prosecution of those who violate the Sherman Act. Additionally it “…also reaches other practices that harm competition, but that may not fit neatly into categories of conduct formally prohibited by the Sherman Act.” 2 The only cases brought under the FTC Act are done so by the …show more content…
This is also very infuriating to many consumers. For example, you may look at your water bill, see that you’re getting hit with only the minimum charge, and it still seems high. If this was the case with your cable bill, you could do something about it. Sometimes it only takes the threat or possibility of leaving for another company to bring prices down, as in telling the cable company you will be moving to a satellite company due to the rate difference. With you water bill, from the beginning of this example, you don’t have that choice. The only alternative you have is to pay a very large sum of money to have a well drilled, bring in the equipment to use the well, such as the pump and filtration equipment, and have a septic tank installed. Following this, you then would have to get your house plumbing rerun from the company lines to your newly installed system. If you are a renter, then this option is usually not only not viable, but more than likely not