Chapter 5 Outline

Chapter 5 Outline - Ch 5 A. Power to Regulate Business: the...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Ch 5 A. Power to Regulate Business: the federal government may regulate any phase of business that is necessary to advance the nation’s economic needs. 1. Regulation, Free Enterprise, and Deregulation: Milton Friedman, the Nobel economist, has written that government regulation of business interferes with the free enterprise system. 2. Regulation of Production, Distribution, and Financing: To protect the public from harm, the government may prohibit false advertising and labeling, and establish health and purity standards for cosmetics, foods, and drugs. 3. Regulation of Unfair Competition: Each of the states and the federal government have statutes and regulations that prohibit unfair methods of competition. Unfair competition is controlled by both statutes and administrative agencies and regulations. B. Regulation of Markets and Competition: Governments, both national and state, may regulate prices. Price regulation may be delegated to an administrative officer or agency. 4.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/04/2008 for the course MJ 021 taught by Professor Finucane during the Fall '08 term at BC.

Page1 / 2

Chapter 5 Outline - Ch 5 A. Power to Regulate Business: the...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online