What is Federal Trade Commission?

The 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.

What is the Federal Trade Commission and why was it created?

When the FTC was created in 1914, its purpose was to prevent unfair methods of competition in commerce as part of the battle to “bust the trusts.” Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices.

What is the main goal of the Federal Trade Commission?

THE FEDERAL TRADE COMMISSION’S (FTC) MISSION: To prevent business practices that are anticompetitive or deceptive or unfair to consumers; to enhance informed consumer choice and public understanding of the competitive process; and to accomplish this without unduly burdening legitimate business activity.

What is the purpose of the Federal Trade Commission FTC )? Quizlet?

What is the Federal Trade Commission? the nation’s consumer protection agency and one of the government agencies responsible for keeping competition among businesses strong. Its job is to make sure companies compete fairly and don’t mislead or trick people about their products and services.

Who does the FTC regulate?

The Federal Trade Commission enforces a variety of antitrust and consumer protection laws affecting virtually every area of commerce, with some exceptions concerning banks, insurance companies, non-profits, transportation and communications common carriers, air carriers, and some other entities.

What are four ways the Federal Trade Commission protects consumers?

The FTC’s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting reports from consumers and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights …

What are the main provisions of the Federal Trade Commission Act?

Under this Act, as amended, the Commission is empowered, among other things, to (a) prevent unfair methods of competition and unfair or deceptive acts or practices in or affecting commerce; (b) seek monetary redress and other relief for conduct injurious to consumers; (c) prescribe rules defining with specificity acts …

Which of the following is a major function of the Federal Trade Commission quizlet?

The Federal Trade Commission is the primary federal agency that protects consumers. Advisory opinions are formal opinions issued by the Federal Trade Commission on issues such as whether a proposed practice is unfair or deceptive. The main purpose of the Federal Trade Commission is to find violators and punish them.

What is true about the role of the Federal Trade Commission’s Bureau of consumer protection?

The FTC serves to protect consumers from what it describes as “anticompetitive, deceptive and unfair business practices.” Essentially, it serves as a watchdog agency for consumers and businesses to stop unfair business practices in the market.