Econ Government role Ch 7 sec 3

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Terms in this set (...)

Anti-trust legislation
laws to restrict monopolies, combinations, and trusts
Sherman Anti-trust Act
law to protect trade and commerce against unlawful restraint and monopoly
Clayton Anti-trust Act
outlawed price discrimination and strengthened a previous anti-trust act
Federal Trade Commission
given authority to issue cease and desist orders to stop unfair business practices
Robinson Patman Act
Act that outlawed special discounts to some customers while denying them to others
Price discrimination
the practice of charging customers different prices for the same product
Cease and desist order
an FTC ruling requiring a company to stop an unfair business practices such as price fixing.
Occupational Safety and Health administration
Investigates accidents at the workplace; enforces regulations to protect employees at work
Securities and exchange commission
regulates and supervises the sale of listed and unlisted securities and the brokers and bankers that sell them
Public Disclosure
Requirement that a business reveal information to the public beyond the labels on food and medical products
Externalities
Unintended side-effect on a third party