Problem:
The study of government regulation and the competitive environment for business is relevant to all those who study business. All business candidates need to understand how the competitive environment will impact their employers and businesses.
Task:
Q1. Summarize the four major pieces of legislation collectively known as the Antitrust Laws.
Q2. Discuss the intended purpose of industrial (i.e., economic) regulation as it applies to the following market structures:
A. Oligopoly
B. Monopoly
Q3. Explain the major functions of the three primary federal and state regulatory commissions that govern industrial regulation.
Q4. Discuss the intended purpose of social regulation as it applies to all market structures.
Q5. Explain the major functions of the five primary federal regulatory commissions that govern social regulation.