Consumer Product Safety Commission

federal agencies that were created to protect the consumer like the Food and Drug Administration, and the Federal Trade Commission but I would like to write about is the Consumer Product Safety Commission. They are an independent agency that protects the consumer by testing and researching products so they do not pose any fire, electrical, chemical, or mechanical hazard. They protect consumers from unreasonable death or injury caused by the product that is under their jurisdiction. This agency is

regulations are those regulations in which “the government commissions regulate the price charged by natural monopolists”. (McConnell & Brue, 2008, p. 382) These regulations exist to ensure that natural monopolies are not charging consumers monopoly prices which in turn hurt the consumers as well as society as a whole. Industrial regulations affect the market by its regulation of the natural monopolies which in turn protects the markets consumers. These regulations also allow for a fair profit to

put in place to protect consumers and society from big business and firms choices. Industrial regulation is the government’s attempt to enact laws designed to prevent firms from participating in bad monopolistic practices and to promote competition in the market space. The reason industrial regulation exists is to keep an eye on firms by making sure monopolies don’t start, however if they do or currently exist regulations are put in place to monitor prices and products to make sure society and

causing the children to develop high cholesterol and obesity, with George and Mary’s son being one of those children. There are many legal arguments which can help in the favor of the plaintiff’s case. First is the Consumer Act, their first right is to apply and know the consumer rights, because misleading trade practices is prohibited by the Act which is against the unfair or a fraudulent business

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

collection of federal and state government laws, which regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers. The four major pieces of legislation known as the Antitrust Laws include: The Sherman Act, The Clayton Antitrust Act, The Federal Trade Commission, and the Celler-Kefauver Act. The Sherman Act was created in 1890 had two major provisions which was to prohibit conspiracies to restrain trade and also to outlaw monopolization

dominated by several monopolies in industries such as railroads, tobacco production, meatpacking and coal mining. The US Government determined the monopolies did not provide enough fair competition in those industries to provide protection of consumers. The Sherman Act of 1890 created the legislation to declare the existing monopolies illegal and made violation of the Act a felony, essentially deeming the existing monopolies in violation of the law. These two regulations made common practices

differently was have had U.S. safety standards, consumer product safety commission and all the other check point for products before outsourcing them to other countries. Since one child died and 12 were injured due to the result of them swallowing magnets I would not consider them as being socially responsible. I do feel they were acting ethical because after the recall the setup several new ways to notify customers incase of another recall and more inspections to check products before be shipped to the

One example is the European Commission blocked the proposed $ 45 billion between US companies General Electric and Honeywell, which approved by US officials. Decision 2001 marked the first time a proposed merger between two US companies fail especially as a result of European regulations (General Electric/Honeywell, 2001). Large American companies wishing to implement the merger now facing an additional barrier: Ignore the EU regulations or the decision of the Commission is not feasible for the importance

that must be followed can be overwhelming. Fortunately for parents and the safety of others, the Federal Hazardous Substances Labeling Act was put into effect in 1960. This was due to the numerous of deaths associated with coming in contact with, and ingestion of a hazardous substance. This act was essential to the protection of our nation’s consumers. Many reasons or regulations are given in regards to safety that consumer needs to know. Just a of these rules and regulations included in the Federal