Market Power (Business Enviroment Module) Essay

Market Power (Business Enviroment Module) - raise ExampleIn order to keep this in check, various agencies nourish been established in US to control the abuse of market power by organizations. The key elbow room is the Department of Justices just Division. The three major federal antitrust laws are the Sherman Antitrust Act, the Clayton Act, and the Federal Trade agency Act. The mission of Antitrust Division is to protect the consumers against unreasonable competition practices of organizations that result in higher harvest-time and service prices. The most implemented law by the Antitrust Division is the Sherman Antitrust Act. Under this act, naval division 2 explains that it is illegal to monopolize, or attempt to monopolize, or combine or conspire with any otherwise person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations (Vickers, 2005).The other agency instituted to govern the market power is Federal Trade Commis sion (FTC). This agency deals with the issues that protect consumers while controlling the competition by preventing unfair competition. The FTC along with Department of Justice Antitrust Division pursues effective laws that pursues customers interests, develops policies and practices for consumers and businesses in the countrys market place as well globally. The FTCs work is however performed by the Bureaus of Consumer Protection, Competition and Economics.The above two agencies implement laws twain on the regional and national level. In addition to this, many different independent government agencies have been set up to control various inter-state competitions. For the regulation of communications either by radio, television, satellite, cable, telephone and so on a Federal Communication Commission has been set up. For the regulation of competition and consumer protection in natural gas, oil, and electricity Federal Energy Regulatory