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Business Practices

In: Business and Management

Submitted By afinley9
Words 1372
Pages 6
Research Paper #1
Antoine Finley
Devry University

Business Practices
The United States has several laws that are intended to further fair, balanced, and competitive business practices and I think they are effective but there are some professional economist who don’t always agree on what role the government should play in the economy. I intend show examples of how the laws set in place are helping the competitive business practices. The examples I plan to focus on are major government agencies and what they do, antitrust legislation, and merger and acquisition approvals, and encourage innovation and economic development. These examples will back my belief that the laws set by the United States government are effective. It is stated in Bovee and Thill (2012, p.38) based on the belief that fair competition benefits the economy and society in general, governments intervene in markets to preserve competition and ensure that no single enterprise becomes too powerful.
Major Government Agencies To keep the business practices fair, balanced, and competitive the United States government has agencies to promote standards, regulate and oversee industries and enforce laws and regulations. These agencies are Consumer Product Safety Commission (CPSC) which regulates and protects public from unreasonable risk of injury from consumer products, Environmental Protection Agency (EPA) which develops standards to protect the environment, Equal Employment Opportunity Commission (EEOC) which protects and resolves discriminatory employment practices, Federal Aviation Administration (FAA) which sets rules for commercial airline industry, Federal Communication Commission (FCC) which oversees communication by telephone, telegraph, radio, and television, Federal Energy Regulatory Commission (FERC) which regulates rates and sales of electric power and natural gas,...

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