FTC Yeah You Know Me
A court order to a business to stop engaging in an illegal practice.
What is a cease-and-desist order?
The effects of technology relate to such characteristics as dynamics, reach, and the _____ nature of technological progress.
What is self-sustaining?
The cell phone industry in the United States is dominated by three large companies. When any one of these companies changes the price of its phones, the other two companies quickly adjust their prices to match it. From these characteristics, the cell phone industry could best be described as this type of competitive structure.
What is an oligopoly?
Enforces laws and guidelines regarding business practices; takes action to stop false and deceptive advertising, pricing, packaging, and labeling.
What is the Federal Trade Commission (FTC)?
Prohibits contracts, combinations, or conspiracies to restrain trade; establishes as a misdemeanor monopolizing or attempting to monopolize.
What is the Sherman Antitrust Act of 1890?
Money paid to a customer to resolve or settle a complaint.
What is redress?
Information technology (IT) is changing the lives of consumers across the globe through career and entrepreneurial activities and through its applications in this type of management used to describe a key aspect of the production process. Hint: A process heavily impacted during the pandemic.
What is supply-chain management?
When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors’ products, this type of structure exists in the competitive environment.
What is monopolistic competition?
Enforces laws and regulations to prevent distribution of adulterated or misbranded foods, drugs, medical devices, cosmetics, veterinary products, and potentially hazardous consumer products.
What is the Food and Drug Administration (FDA)?
Prohibits specific practices such as price discrimination, exclusive-dealer arrangements, and stock acquisitions whose effect may noticeably lessen competition or tend to create a monopoly.
What is the Clayton Act of 1914?
Civil penalties are fines for up to this dollar amount for violating a cease-and-desist order (any answer within $10,000 of the correct amount is accepted, but the exact amount results in double points).
What is $50,200?
These are two of the many social institutions changed by technology.
What are social relationships, the legal system, religion, education, business, and leisure?
Most marketers operate in these two types of competitive structures.
What are oligopoly and monopolistic competition?
Regulates communication by wire, radio, and television in interstate and foreign commerce.
What is the Federal Communications Commission (FCC)?
Regulates the collection of personally identifiable information (name, address, email address, hobbies, interests, or information collected through cookies) online from children under age 13.
What is the Children's Online Privacy Protection Act of 2000 (COPPA)?
A requirement that a business makes a new advertisement to correct misinformation.
What is corrective advertising?
Some negative impacts of technology include concerns over privacy and intellectual property protection issues as well as its affects on these types of retailers. Hint: Amazon's success threatens them.
The Sherman Anti-Trust Act was put to the test in the early 20th century in a court case involving this major monopoly owned by John D. Rockefeller.
What is Standard Oil Company?
Regulates the offering and provision of consumer financial products and serves to protect consumers from deceptive financial practices.
What is the Bureau of Consumer Financial Protection (BCFP)?
Refined copyright laws to protect digital versions of copyrighted materials, including music and movies.
What is the Digital Millennium Copyright Act of 1996?
An order for a business to stop engaging in questionable activities to avoid prosecution.
What is a consent decree?
It is estimated that by 2030 more than 50 billion things will be connected to the Internet. This phenomenon—known as The Internet of "this"-- will greatly impact how we do business and live our daily lives.
What are "Things"?
This type of industry is often cited as a theoretical example of pure competition, notwithstanding subsidies that complicate the purity of the example.
What is the agricultural industry?
Ensures compliance with the Consumer Product Safety Act; protects the public from unreasonable risk of injury from any consumer product not covered by other regulatory agencies.
What is the Consumer Product Safety Commission (CPSC)?
Provides protections for and regulation of brand names, brand marks, trade names, and trademarks.
What is the Lanham Act of 1946?