Chapter 24: Protecting Consumers

Legal monopoly

A(n) ________ is a company that is allowed to operate without competition.

Federal Trade Commission Act

The ________ protects consumers from false and misleading advertising with truth- in- advertising laws.

business community

The ________ protects consumers by providing information.

Better Business Bureau

The ________ is a nonprofit organization that collects information on local businesses and handles complaints.

State public utilities commissions

________ regulate the rates charged by electric, gas, and water companies.

UCC

The ________ protects the economic interests of buyers and sellers in contracts.

Recall

A(n) ________ is an order to take back and repair or replace a product that has defective parts.

US government

The ________ allows businesses to compete in the marketplace with relative freedom.

Uniform Commercial Code

The ________ is a group of laws that regulate commercial business transactions.

Customer service representative

A(n) ________ can answer questions or help resolve problems.

Fair Packaging and Labeling Act

The ________ requires that manufacturers labels truthfully list all ingredients and raw materials used in production.

Clayton Act

The ________ of 1914 and the Robinson- Patman Act of 1936 are aimed at prohibiting price discrimination.

Grade labels

________ indicate the level of quality of foods.

Price discrimination

________ is the act of charging more than one price for the same product or service in different markets or to different customers.

State licensing agencies

________ issue licenses, or legal permits to conduct business.

Federal Trade Commission

The ________ enforces federal antitrust and consumer protection laws by investigating complaints against companies.

The National Consumers League is the nations oldest non

profit consumer group with membership open to anyone

The Clayton Act of 1914 and the Robinson

Patman Act of 1936 are aimed at prohibiting price discrimination