| A | B |
|---|
| Business Ethics | A collection of principles and rules that define correct and incorrect behavior/conduct for a member of an organization. |
| The Sherman Act of 1890 | Insures that companies remain able to compete fairly; Makes it illegal for companies to monopolize trade; Prohibits mergers of new company if merged company controls too large a share of the market |
| The Clayton Act of 1914 | Makes it illegal to charge different prices to different wholesale customers; Bans practice of requiring a customer to purchase a second good |
| The Robinson-Patman Act of 1936 | Amended portion of the Clayton Act dealing with the pricing of goods; Prevents price discrimination—setting different prices for different customers |
| Wheeler-Lea Act of 1938 | Passed to strengthen earlier laws outlawing unfair methods of competition; Bans unfair unfair or deceptive acts or practices, including false advertising |
| Federal Food, Drug, and Cosmetic Act of 1938 | Bans the sale of impure, improperly labeled, falsely guaranteed, and unhealthful foods, drugs, and cosmetics; Enforced by the Food and Drug Administration (FDA) |
| Consumer Product Safety Commission 1972 | Establishes minimum product safety standards on consumer products; If product is defective, CPSC has the authority to force the manufacturer to recall the product |
| Truth in Lending Act of 1968 | Creditors are required to let consumers know how much being paid in finance charges and interest; Business must show finance charge on statements as annual percentage rates to make comparing rates easier. |
| Equal Credit Opportunity Act of 1975 | Illegal for business to deny credit because of age, sex, marital status, race, national origin, religion, or public assistance; Requires businesses to notify credit card applicants of application status within 30 days and give reason for rejection |
| Fair Credit Reporting Act | gives cardholders right to see their credit agency reports and to correct errors |
| Fair Debt Collection Practices Act | forbids debt collectors to use abusive, deceptive, or unfair collection methods |
| The National Environmental Policy Act of 1969 | Key piece of legislation in environmental protection; Created the Environmental Protection Agency (EPA) whose mission is to protect human health and safeguard the air, water, and land |
