Measuring the Effectiveness of Business Practice Laws

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Measuring the Effectiveness of Business Practice Laws
Jennifer Torres Fuentes
DeVry University

Measuring the Effectiveness of Business Practice Laws In the world of business, laws that are intended to protect and ensure fairness amongst competitors and consumers have their ups and downs when it comes to how effective they really are. There are various policies and procedures that are put in place in an attempt to promote fair, balanced and competitive business practices, whose effectiveness suffers because of a lack of enforcement to their terms. Until society as a whole owns up to how badly we have reverted into unethical and demoralized behavior, the effectiveness of laws put into place to encourage us to practice socially responsible behavior will not be effective. When the needs of the many supersedes the needs of the few, only then will these laws, policies and procedures put in place to encourage socially responsible behavior being to have any real effect.

The Federal Trade Commission (FTC) enforces federal consumer protection laws that prevent fraud, deception and unfair business practices. The Commission also enforces federal antitrust laws that prohibit anticompetitive mergers and other business practices that could lead to higher prices, fewer choices, or less innovation. The Commission has enforcement or administrative responsibilities under more than 70 laws. They are grouped in three categories: (a) Statutes relating to both the competition and consumer protection missions; (b) statutes relating principally to the competition mission; and (c) statutes relating principally to the consumer protection mission.
The Federal Trade Commission Act is the primary statute of the Commission. Under this Act, the Commission is empowered, among other things, to (a) prevent unfair methods of competition, and unfair or deceptive acts or practices in or…...

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