Industrial regulation is the government regulation of an entire industry. The purpose of industry regulation is for a an entity to watch an industry’s prices and products to make sure that they do not create a monopoly or take advantage of consumers. There are basically two kinds of regulation, price regulation and social regulation. Price regulation is regulation directed towards industries that have tendencies that may produce a monopoly. The industries that price regulation agencies monitor are: the Federal Energy Regulatory Commission (FERC), which are basically responsible for monitoring gas and oil pipelines and other energy based industries; the Federal Communications Commission (FCC), who are supposed to regulate…
I am attempting to address the concerns of not dropping the hitches verse bad order beaks, will recap how JB Hunt wants the containers priorities managed, and confirm the ramps connect with JBHRail if there are any questions if the container should be left behind. Once guidelines are clearly reiterated, expectancy would be to prevent unwanted TOFC…
We have all heard the phrase, “Stretch your dollar”, but have you ever stopped to consider what all goes on behind the scenes in order to make this stretch occur? What rules of economics and finance play into making your hard-earned dollar stretch to its maximum value? While the topic of stretching your money spans across all areas of business, finance, and economics, I will focus on the fundamental principle of economic stretch; elasticity.…
There are 4 main pieces of legislation that are collectively known as the Anti-trust laws. They are the Sherman Antitrust Act, The Federal Trade commission Act, The Clayton Antitrust Act and the Celler-Kefauver Act. The Sherman Antitrust Act is legislation enacted to protect Americans against monopolies. It makes it illegal to make contracts or conspire to restrict trade or commerce. It also outlaws monopolies. The Federal Trade Commission Act established the Federal Trade Commission and set up how it would be run, with a group of 5 people that did not follow party lines that would be chosen for 7 years terms and would make sure no antitrust laws were being broken. The Clayton Antitrust Law closed a lot of the loopholes that the…
The antitrust act hasn’t changed since it has been created, however the advancement of technology has made it difficult to establish which company would fall under the antitrust act. Older industries are easier to deal with because they are most likely to have a line of cases. Railroads industries for example, have been around for a long time now, which means there has been judges deciding things about it for more than a century. The problem are the technology companies, those are very contemporary making it more difficult for economists and lawyers to decide what is going against the antitrust laws and what isn’t. Furthermore, the advancement of technology has drastically increase deals between different countries. Considering this, before a deal gets approved, it has go through all the antitrust acts from all the countries involved in the deal. A very challenging and long lasting process. Antitrust acts have been around for more than a century, however it has been going through some changes to keep up with the advancements of…
The scope of this paper is to break down and define social regulation, industrial regulation, and natural monopolies by explaining how they have impacted society and why they exist. It is also the intent to summarize the Antitrust Laws, explain the major functions of the five primary federal regulatory commissions that govern social regulation, and identify three main regulatory commissions of industrial regulation.…
The federal laws beginning with the Sherman Act of 1890, the Clayton Act of 1914, the Robinson-Patman Act of 1936, and the Federal Trade Commission Act of 1914 which was created to encourage free-market system and safeguard against restriction of trade. The law are in place to preventing one company from becoming too powerful. The law is critical that all business understand the basics of the laws just in case their efforts to expand are being restricted by the anticompetitive practices of the most in control in the market place. place Business should consider that each state have a set of laws, which may be even wider than federal laws and that, depending upon the political views of a given governor or lawyer general, a state could more aggressive…
A company’s brand image is the opinion and portrayal the consumer about the company. The consumer is not just buying what the company in selling but also the image linked to the product or service. The brand image is what also sets a company apart from another company that is selling a similar item. An innovative idea that conveys the company’s vision in a unique way or above those of its competitors will be…
The Antitrust law is one that encourages marketplace rivalry by controlling anti-competitive behavior by businesses. The laws and regulations prohibit accords or acts that limit free trading and competition among businesses (Jacobson & American Bar Association, 2007). This may include cartels, dominating firms, some mergers and acquisitions and joint ventures. Conducts that are deemed a threat to competitive process can be barred, or permitted on conditions such as requirements to divest part of the merged company (Rubinfeld, 2001). United States antitrust law controls the behavior and management of…
The Sherman Act of 1890 states that trade restraints and monopolies are illegal. The Clayton Act of 1914 was put into place to further outline the illegal activities stated in the Sherman Act, and to outlaw ways that companies may try to develop monopolies. It was later amended by the Celler-Kefauver Act of 1950, which kept a company from merging with it’s competitor to acquire their stock. The Federal Trade Commission Act of 1914 created the Federal Trade Commission, which has 5 members and works with the Department of Justice to regulate the antitrust laws. The Wheeler-Lea Act of 1938 was created as an amendment to the Federal Trade Commission Act. It made the FTC independent from the Department of Justice and also made unfair and deceptive sales illegal.…
375). In response to monopolies, cartels, and trusts, Congress passed two major pieces of legislation: the Sherman Act and the Clayton Act. The Sherman Act is a federal statute passed in 1890. It was the first major legislation passed to address oppressive business practices associated with cartels and oppressive monopolies. The Clayton Act of 1914 simply sharpened and clarified the general provisions of the Sherman Act and regulates practices that are deemed harmful to fair competition; price fixing, exclusive contracts, tying agreements, mergers and acquisitions. The Federal Trade Commission Act of 1914 prohibits unfair methods, acts, and practices of competition in interstate commerse. But more than anything, it established the Federal Trade Commission to police violation of the act and to enforce the Clayton and Federal Trade Commission Acts, as well. The Celler-Kefauver Act of 1950 amended the Clayton Act and targets mergers where companies purchase suppliers, and occasionally competitor 's suppliers, in order to secure production. It added vertical mergers and conglomerate mergers to the possible list of antitrust violations. REGULATORY COMMISSIONS OF INDUSTRIAL…
Competency 309.1.2: Supply and Demand - The graduate applies the laws of supply and demand to develop a desirable relationship between supply and demand in a given situation.…
According to the words of one critic, Isabel Paterson, "As freak law, the antitrust laws stand alone. Nobody knows what it is they forbid." In 1914 Congress legislate the Clayton Act, which forbidden particular trade actions if they significantly reduced competition. Simultaneously Congress initiated the FTC (Federal Trade Commission), who’s judicial and business specialists could pressure business to agree to "consent decrees", which gives a substitute instrument to guard antitrust.…
Around 1890, Congress started to create antitrust laws, and several cases involving antitrust laws as early as the past year, such as the Sherman Act which outlaws "every contract, combination, or conspiracy in restraint of trade," and any "monopolization, attempted monopolization, or conspiracy or combination to monopolize.” The antitrust laws prohibit illegal mergers and commercial practices in general terms, thus leaving the courts to decide on which practices are unlawful based on the facts of each case.…
Antitrust Legislation- laws that restrict the formation of monopolies and regulate certain anticompetitive business practices. The Antitrust Diversion of the Department of Justice and the Federal Trade Commission attempt to enforce these antitrust laws.…