3 The numbers of firms that produce identical products or goods which are homogenous are called market structure. Industrial regulation is the government regulation on an entire industry with the objective of keeping a close eye on the industry prices and take advantage of consumers. Rules set by government and agencies that help control the operations of businesses who may demonstrate monopoly power in their organization. Monopoly may lead to consumers being exploited (higher prices) and consumers paying way too much for a product. Antitrust laws are federal and state government laws that regulate the conduct and organization or businesses. This helps promote fair competition for consumers. There are four main areas involving the …show more content…
Many utilities are monopolies by having the entire market share in certain areas. With deregulation of these utilities, the market becomes open to competition for market share to begin. In terms of regulation of monopoly, the government attempts to prevent operations that are against the public interest, call anti-competitive practices. Likewise, oligopoly is a market condition where there are minimal distributors that have a major influence on prices and other market factors. This causes market failure, especially if evidence of collusive behavior by dominant businesses is found. There are three primary federal and state regulatory commissions that govern industrial regulation. They include the Federal Power Commission, the Federal Energy Regulation Commission, and the Natural Gas Act. The Federal Power Commission, which was created in 1930, allowed cabinet members to coordinate federal hydropower dams and navigable waters that the federal government owned. Years later, the FPC became The Federal Energy Regulation Commission. The FERC oversee the transmission of liquefied natural gas, while still overseeing electricity and hydroelectric projects. The Federal Energy Regulation Commission possess control over electricity, natural gas pricing, and oil pipeline and non-federal hydropower projects. It is made up of five commissioners that are approved by the President with approval from the Senate. In 1938, the Natural Gas Act
Some challenge that the most efficient regulator is free-market competition among those seeking to attract the buying public. They argue that government regulation is intrusive with the marketplace and works to the disadvantage of both consumers and producers. Advocates of government regulation, however, see a better need to observe and guide the path of competition. They believe that an entirely unrestrained market will unavoidably lead to monopolistic practices, higher costs, underserved segments of society, and lower-quality goods and
Explain the major functions of the three primary federal and state regulatory commissions that govern industrial regulation.
The Arizona Legislature is now at day 32, which is more than 30% of the way towards the “mythical” 100-day legislative session. Arizona is one of a few states whose legislature has no constitutional or statutory end date. The Legislature starts the year off with a rule stating session shall last 100 days, the rule is often amended and the 100-day goal missed.
B) The intended purpose of Industrial or Economic regulation as applied to Oligopolies and Monopolistic market structures is used to reduce the market power of both! A government commission regulates the prices charged by “natural monopolists.” Industrial Regulation is necessary to prevent natural monopolies from charging monopoly rates which may harm consumers/ society. Industrial Regulation tries to establish pricing that will cover production costs and provide a fair amount of return to businesses. Price=Average Total Cost, where normal profit is accomplished. (governs pricing, output, & profits in specific industries).
Prior to meeting for the Problem Identification, Stage 1, Ms. Bellot and I spoke on the phone and I briefly explained what consultation and the collaboration efforts that would be needed in the process. She agreed to participate in the consultation process and she was asked to complete a Social History form to gather additional background information on Brianna. Ms. Bellot understood the questions and did not omit any answers.
Explain how you plan to apply to your lesson planning on exploring water and gardens to each of the four (4) aspects of Learning Outcome 2?
As is the case with any type of evidence seizure, what is fair game and what is off limits needs to be identified and set, preferably in writing before any work is done. (Nelson, Phillips, & Steuart, 2015). This ensures that the forensics team will be protected in the worst case scenario where the company could have an issue with what was taken, very similar to the protection ethical hackers require when performing a penetration test (##). Once this list is created, the team will interview the system administrators to provide any information allowed about the systems such as the equipment, system baselines, passwords that are allowed to be shared, and any special information that would need to be known before analyzing the system such as what information is logged and where would it be stored (Rowlingson, 2004). The entire purpose of this information gathering is to paint a clearer picture of the situation so a more detailed plan could be devised prior to any systems being touched.
The antitrust laws are the basis of this national policy. These laws, enforced by both the federal and state governments, require companies to compete in the marketplace. The Sherman Act, the first federal "antitrust law," was enacted in 1890, at a time when there was enormous concern about "trusts" -- combinations of companies that were able to control entire industries. Since then, other laws have been enacted to supplement the Sherman Act, including the Federal Trade Commission Act and the Clayton Act (1914). With some revisions, these laws still are in effect today. They have the same basic objective: making sure there are strong economic incentives for businesses to operate efficiently, keep prices down, and keep quality up.
References Discover credit # xxxx-xxxx-xxxx-1565 was never used, and there was balance on the Account. The account was closed on August 29, 2015.
I would advise the CEO that to better serve the company’s desire we would start with a strategic plan by setting goals and objectives. It would be best to elicit the opinions of every staff member on how they feel about the company’s goal. After listening to the staff opinions on how best to implement the goals, a plan is to be put in place detailing the steps by steps on how to achieve each tasks. I would emphasize to the CEO the importance of setting goals and communicating them effectively to the staff members, especially those who will be the managers. Additionally, the CEO is to consider the needs of each individual in the company. It is important to address both the task and the needs of the employees ( Phillips & Gully, 2014).
After holding ( 2:41) (12:21) (15:14) Jackie removes the client from holding a few times in the call and none of them were provided with proper expectations of showing appreciation for his time and patience. ( " Thank you, Herbert, for
Antitrust law in the United States is a collection of federal and state government laws regulating the conduct and organization of business corporations with the intent to promote fair competition in an open-market economy for the benefit of the public. Congress passed the first antitrust statute, the Sherman Antitrust Act, in 1890 in response to the public outrage toward big business. In 1914, Congress passed two additional antitrust laws: the Federal Trade Commission Act and the Clayton Act. (The Antitrust Laws. Web.)
II. Antitrust laws: Federal Trade Commission- protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace by conducting investigations, prosecuting companies and/or individuals that violate the law, developing rules to ensure a vibrant marketplace, and educating consumers and businesses about their rights and responsibilities. (FTC, 2016).
Anti-trust laws apply to business conduct in interstate commerce (Jennings 520). Furthermore, these laws make sure everything is regulated accordingly and that trade takes place efficiently and effectively. There are a variety of different laws, but I will inform you about three of them: the Clayton Act, the Robinson-Patman Act, and the Federal Trade Commission Act.
In the United States, several laws were established to keep businesses operating fairly and competitively in every market. With businesses willing to do just about anything to gain the competitive edge, antitrust laws were set into place to prevent to keep a companies from being dishonest while trying to obtain new clientele. Being a small business is tough trying to compete with larger companies, such laws protect them from market allocation, bid rigging, and price fixing.