3 (3) - Step three – The purpose of the act is not...

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OSHA – Occupational Safety and Health Administration Step one – OSHA Act is to prevent work-related injuries, illnesses, and occupational fatality by issuing and enforcing standards for workplace safety and health. Step two – The act provides rights to worker for a better workplace and safety of health. Step three – The purpose of the act is not to bring efficiency in the market and is more general in nature and therefore is a social act. The Clean Air Act Step one – CDA is for reducing pollution in the air and enforce clean air standards, so as to benefit general public. Step two – The act is for the benefit of entire society and is adding value to the entire economy.
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Unformatted text preview: Step three – The purpose of the act is not economic, as it is not bringing efficiency in the market. Therefore it is social law FDIC – The Federal Deposit Insurance Corporation Step one – The FDIC is enacted under the Glass Steagall Act, for providing protection to the deposit holders in banks. Step two – The beneficiary under the FDIC are the deposit holders in the bank and is only restricted to them. Step three –The purpose of FDIC is to bring more efficiency in the market and is not providing service to everyone, therefore is an economic law....
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This note was uploaded on 12/04/2011 for the course ECONOMICS 201 taught by Professor Rcollier during the Spring '10 term at Portland CC.

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