Preview

jfgdh

Satisfactory Essays
Open Document
Open Document
502 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
jfgdh
Better business bureau (BBB)-Non-profit organization is sponsored by local business. It offer a variety of consumer services at no charge to help with consumer complaints.It can provide consumer education materials, answer consumer questions, and provide general information about a company’s consumer complaint record.
Food and drug administration (FDA)-Federal agency that was formed to set and enforce safety standards for food, drugs, and cosmetics.They have the authority to stop the sale of an item under their jurisdiction, if it is found to be harmful or hazardous.They may also require safety warnings to be placed on harmful or hazardous products.This is the agency which tests new drugs and medications before they are put on the market.
Consumer product safety commission (CPSC)-this is a federal agency that was formed to set and enforce safety standards such as household appliances, toys, and tools.If a product under the jurisdiction of the CPSC is found to be harmful or hazardous, they can prevent that product from being sold, or they can require the manufacturer to repair or replace the product.The CPSC will also investigate complaints from consumers about products.
Federal trade commission (FTC)- this is a federal agency that was formed to protect consumers against false advertising, illegal sales schemes, and all unfair trade practices.
Unfair trade practice- any business practice which is considered unethical or illegal
Supply- the amount of goods and services available for sale at various prices at stated times
Second-A product that does not meet the standard requirements.It is sometimes labeled irregular and may contain minor flaws or imperfections.
Service-work performed to meet the needs of those buying the work, such as repair work, personal grooming services, house cleaning, and transportation.This also includes the professional services of doctors, lawyers, teachers, etc.
Producers-Those who provide the supply of goods and services to meet

You May Also Find These Documents Helpful

  • Good Essays

    The Better Business Bureau collects data on a particular business’s reliability, alerts the buying public…

    • 350 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    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…

    • 1492 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    "Federal regulatory agencies have been created over the life of the United States to deal with specific issues that affect citizens of all states or industries that engage in business across state boundaries. Federal regulatory agencies generate and enforce rules" (eHow Money). The law dictates their work. Regulatory agencies enforce federal laws and generate rules. These rules are necessary for effective enforcement.…

    • 1432 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Test Ch 11 and 12

    • 7741 Words
    • 54 Pages

    Ramblin' Country Stables contracts to buy 1,000 horseshoes from Blacksmith, Inc., for $1 per shoe. When the market price decreases to 50 cents per shoe, Ramblin' refuses to go through with the deal. Blacksmith can recover…

    • 7741 Words
    • 54 Pages
    Good Essays
  • Good Essays

    Study Questions 4

    • 480 Words
    • 2 Pages

    A Better Business Bureau (BBB) is a private, nonprofit organization that provides services and programs to assist consumers and businesses…

    • 480 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    As the world evolves through time, the business industry keeps on developing, indicating a fast growth rate of the numbers of merchants around the globe. Each seller will try to sell their goods and services more than their rivals and this merely shows that the current competition is extensive. Since sellers are eager to sell their goods and services, the buyer is often mislead and trapped into business dealings which the buyer’s have had to regret in the end. In order to succeed in their business dealings, the seller, in many situations, tend to withhold important information regarding the good or service they are selling. ‘Consider an injury caused by a product. A person consumes contaminated ginger beer. A child’s toy snaps and injures the child. The brakes in a car fail.’[1]…

    • 3375 Words
    • 14 Pages
    Powerful Essays
  • Satisfactory Essays

    Hcs/ 490 Outline

    • 475 Words
    • 2 Pages

    Government Regulatory Agencies and Impact on Consumer Choices Outline I. Introduction a. What is a regulatory agency?…

    • 475 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The Better Business Bureau (BBB) is a trade association, which creates regulatory requirements for those who participate in membership (O’Brien, 2012). Ultimately, their primary goal is to ensure organizations are accountable and are acting in a socially responsible way. Thus, they inform consumers of any violations and recognize businesses who perform well. Historically, they have been performing these services since in 1912 as the National Vigilance Committee, but later changed their name to the BBB in 1921 (Ferrell, Fraedrich, & Ferrell, 2011).…

    • 597 Words
    • 3 Pages
    Good Essays
  • Good Essays

    section 1 study quesions

    • 650 Words
    • 3 Pages

    Service – Something of value that a person can do for other people. A service is some type of Commodity.…

    • 650 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The business related laws in the United States intend to foster free, fair, balanced and effective business practices. Laws protecting consumers in the United States disallow unfair, deceptive and anti-competitive business practices. Despite significant legislative differences from one state to another, a major premise is that deceptive and unfair business practices are unethical and inappropriate (Cartewr, 2009). These laws constitute critical legal underpinnings for ethical business practices and fair treatment of consumers in the market (Nickels & McHugh, 2013).…

    • 597 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Study Questions 1

    • 440 Words
    • 2 Pages

    3. What is a service? (0.5 points) A service is something of value that a person can do for other people, such as babysitting, tutoring, or landscaping.…

    • 440 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Sherman Act Of 1890

    • 1119 Words
    • 5 Pages

    The FDA, esatblished in 1906, regulates the safety and effectiveness of food, drugs, and cosmetics. The EEOC, established in 1964, regulates the hiring, firing, and promotion of workers. OSHA, established in 1971, regulates industrial health and safety. The EPA, established in 1972, regulates air, water, and noise pollution. The CPSC, established in 1972 as well, regulates the safety of consumer products (McConnell, Brue, Flynn, 2011, pg.…

    • 1119 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Egt1 Task 3

    • 795 Words
    • 4 Pages

    The Federal Trade Commission Act of 1914 (created by the 5 member Federal Trade Commission (FTC), has joint Federal accountability with the U.S. Justice Department for imposing/enforcing the antitrust laws. The FTC has the power to investigate, scrutinize any unfair competitive practices on its own initiative or by requests of wrongly affected firms. It has the…

    • 795 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Five Credible Websites

    • 446 Words
    • 2 Pages

    3.2. The U.S. Food and Drug Administration (FDA) is a scientific, regulatory, and public health agency. The FDA also alerts and recalls products that have a potential risk. The FDA is a division of the HHS. The site is reputable and free of advertisements. The coverage is freely viewed and printed. Provides accurate and up-to-date information.…

    • 446 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    1. Service is usually the act of helping or doing for someone. Many acts of service include supplying things such as water, electricity, gas, etc. Service is a general work that could be used for many things as long as there is a provider.…

    • 334 Words
    • 2 Pages
    Satisfactory Essays