Eco 372 Week 4 Understanding Business
Understanding business
The business related laws in the United States intend to foster free, fair, balanced and effective business practices. Laws protecting consumers in the United States disallow unfair, deceptive and anti-competitive business practices. Despite significant legislative differences from one state to another, a major premise is that deceptive and unfair business practices are unethical and inappropriate (Cartewr, 2009). These laws constitute critical legal underpinnings for ethical business practices and fair treatment of consumers in the market (Nickels & McHugh, 2013). An important law is the Federal Trade Commission Act. The sole function of such a law is safeguarding consumers’ rights through promotion of free, fair
The business related laws in the United States intend to foster free, fair, balanced and effective business practices. Laws protecting consumers in the United States disallow unfair, deceptive and anti-competitive business practices. Despite significant legislative differences from one state to another, a major premise is that deceptive and unfair business practices are unethical and inappropriate (Cartewr, 2009). These laws constitute critical legal underpinnings for ethical business practices and fair treatment of consumers in the market (Nickels & McHugh, 2013). An important law is the Federal Trade Commission Act. The sole function of such a law is safeguarding consumers’ rights through promotion of free, fair