Outline the basic acts or laws concerning antitrust, the specific governmental agencies in charge of enforcing each law

Outline the basic acts or laws concerning antitrust, the specific governmental agencies in charge of enforcing each law, the limits of responsibility of these agencies, and your suggestions on simplifying the process.

Answer the two questions below in approx. 500 words each:

Antitrust laws and the agencies involved in enforcing such acts seem to be

confusing. Please outline, concisely, the basic acts or laws concerning antitrust, the

specific governmental agencies in charge of enforcing each law, the limits of

responsibility of these agencies, and your suggestions on simplifying the process.

Five foreign students have just joined your class. They know very little about the

US political system. Write a short essay describing our congressional system, its

membership, its rights and responsibilities, its committee structure, and its

relationship with the President.

Question # One

Local, national and international business transactions involve parties (buyer and sellers)

who are ideally and in reality expected emerge to from these deals fairly. The U.S antitrust laws

are a set of federal and state laws that regulates the operation and organization of business

enterprises in order to ensure fair competition that is beneficial to consumers (Creative

Commons.org. 2012). Even though, consumers may not be away of it, antitrust laws affect their

daily lives in different ways. Antitrust laws play a significant role in guaranteeing consumers

benefit of fair competitive prices and high quality products and services. The antitrust laws or

acts achieve these goals through three major ways. First, they restrict creation of cartels and

forbid collusive business practices that are in restraint of commerce or trade. Second, they

prevent anticompetitive mergers and acquisitions. Third, they forbid formation of monopolies

and misuse of monopoly power. The U.S antitrust laws are a manifestation of the country’s

commitment to build and maintain an economy founded on fair competition.

The main U.S antitrust acts include the Sherman Act 1890, the Federal Trade

Commission Act 1914, and the Clayton Act 1914 (Washington Office of the Attorney General

2013).


 

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