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Egt1 Task 3 Essay

704 words - 3 pages

A. The federal government put together the antitrust laws as a way to make businesses compete fairly. These laws prevent monopolies, fixed pricing, they regulate trade and commerce and promote ethical production of products and services, at reasonable price points. The four major pieces of legislation that make up the antitrust laws are? The Sherman Antitrust Act, The Clayton Antitrust Act, the Celler-Kefauver Act of 1950, and the Federal Trade commission act.
The Sherman Antitrust Act focuses on restraint and prevention of trade between foreign nations, prohibition of monopolies, and is the only US department of Justice that has the power to prosecute people that are in violation of ...view middle of the document...

Again due to the lack of companies there is a need to think about how changes will effect the companies and how they will independently react to possible changes. There are industrial regulations that are regulated by the government that help ensure that consumers will get fair pricing on said products.
2. A monopoly is another market structure in which there is only one producer which controls supply of the product. In this market structure there is very restricted and sometimes prevention of the entry of other producers trying to make the same product. There are also regulations that apply to monopolies and those regulations regulate pricing to ensure that it is priced fairly for both the consumer and producer.

C. There are three primary federal and state regulatory commissions that govern industrial regulation. The federal energy regulatory commission work over electricity, gas, gas pipelines, oil pipelines, and water powered sites. The federal communications commission governs telephones, television, cable television, radio, telegraph, CB radios and ham operators. Last but not least there is the State Public Utility Commissions that has jurisdiction over gas, electricity and telephones.

D. Social regulation deals with the impact of business on consumers, worker, the environment...

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