CHAPTER 4 THE MARKETING ENVIRONMENT MULTIPLE CHOICE QUESTIONS 1. “________ fever” results from the convergence of a wide range of forces in the marketing environment—from technological, economic, and demographic forces to cultural, social, and political ones. a. Marketing b. Cultural c. Technographic d. Millennial Answer: (d) Difficulty: (2) Page: 117 2. The ______________________ consists of the actors and forces outside marketing
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monopoly could be patents on inventions that are need to make the product. They could also be restriction on product, tax laws and government regulations. One government regulation that ensures the U.S. Postal Service will always be a monopoly is the law that was established that states the U.S. Postal service is the only company that can legally deliver first class mail. This law alone is a barrier for any new company that would like to start a post office business. Ownership of essential resources
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Introduction Antitrust laws are essentially a series of highly interpretable and ever-changing guidelines meant to encourage stable competition between businesses; in essence they are laws to protect against anti-competitive monopolists and conspiracies. What is US antitrust law? US antitrust law is essentially competition law. The term “antitrust” refers to the colossal trusts which were set up in the US in the late 1800s to control entire markets for petroleum, transport, banking, rail and other
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the Laws on Commercial Speech and Free Market Competition Our society has advanced to where it is today because of the interaction and exchange that fosters innovation and economic progress. We cannot naively rely on the pure goodness of society to insure that trade and business is fair—society depends on institutions for that, more specifically the institution of law. Good laws are intended for society to capture the gains from trade and interaction. This paper will evaluate whether the laws that
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Patricia Harris Busn 310-1103B Business Ethics Abstract There are instances where major manufacturers are protected by antitrust laws. Even though it may appear they are siding with a monopolistic power in the marketplace. On the other hand federal regulation commissions are hard at work in protecting the consumer from unfair treatment. The judgments under which such decisions are made require careful consideration of the intent of the companies involved and how they affect the consumer.
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Unit 1 Week 1: An antitrust law that was the first United States Federal statute to limit cartels and monopolies that was signed July 2, 1980 is called Sherman Antitrust Act. This act allows the US federal government to take the legal action against firms in the formation of trusts as a means of dissolution (Sherman, 2013). Therefore, Goliath and Junior are not correct. The relationships that exists which restrain trade and commerce are strictly forbidden and deemed illegal (Sherman, 2013). Since
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prohibited combinations in restraint of trade without any distinction between “good” and “bad” trusts. To elaborate, the law was ineffective largely, due to the fact it was used to curb labor unions or labor combinations that were restraining trade. However, as monopolistic corporations were directly threatened they counteracted the law with a revolutionary principle. The Sherman Antitrust Act of 1890 outlawed trusts, monopolies that fix prices and restrained
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and Competitive Business Practices Abstract The United States has many laws to further fair, balanced and competitive businesses. I believe these laws are useful and are put into place to protect businesses, organizations and consumers. These laws help protect against copyrighting, discrimination, insider trading and trademarking. Businesses must engage in ethical business practices which include abiding by government laws in order to be more successful and profitable. Bovee & Thill (2012) says
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market, and also keeps the monopolies from doing anything unreasonable. This has led to numerous trials on major companies, one of the biggest cases would be the trial against Microsoft INC. Acts for Regulating Monopolies: In 1890 the Sherman Antitrust act was put into effect, named after the Senator of Ohio, John Sherman and was the first component for congress to prohibit trust.(General Records of the United States Government, Record number 11) The Sherman Act intended by congress to help keep
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[Industrial regulation pertains to the government regulation of firms’ prices or rates within industries. These regulations are in existence to prevent companies from forming a monopoly, to promote competition and achieve allocative efficiency.] (Brue, 2011) In the mid-1800’s industry began to grow and many companies were becoming monopolies by being dominant firms in their industry. They would drive up prices by using questionable tactics. Different businesses and consumers began to complain to
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