What is the purpose of the Federal Trade Commission?
The basic statute enforced by the FTC, Section 5(a) of the FTC Act, empowers the agency to investigate and prevent unfair methods of competition, and unfair or deceptive acts or practices affecting commerce. This creates the Agency’s two primary missions: protecting competition and protecting consumers.
What is an example of the Federal Trade Commission?
The Federal Trade Commission is divided into three bureaus that have different regulation and protection responsibilities. … For example, the FTC might investigate whether a retail company has special agreements with a supplier that violates anti-trust law and gives them an unfair advantage over their competitors.
What does the Federal Trade Commission do quizlet?
What is the Federal Trade Commission? the nation’s consumer protection agency and one of the government agencies responsible for keeping competition among businesses strong. Its job is to make sure companies compete fairly and don’t mislead or trick people about their products and services.
What is a trade commission?
Trade commission: Also called a stock trading fee, this is a brokerage fee that is charged when you buy or sell stocks. You may also pay commissions or fees for buying and selling other investments, like options or exchange-traded funds.
What are four ways the Federal Trade Commission protects consumers?
The FTC protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace. We conduct investigations, sue companies and people that violate the law, develop rules to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities.
What does FTC do with complaints?
As the nation’s consumer protection agency, the FTC takes complaints about businesses that don’t make good on their promises or cheat people out of money. We share these complaints with our law enforcement partners and use them to investigate fraud and eliminate unfair business practices.
What is FTC refund?
The Federal Trade Commission is mailing 22,581 refund checks totaling more than $470,000 to consumers nationwide who bought two deceptively marketed health products—TrueAloe and AloeCran, from a company called NatureCity, LLC.
Where is the Federal Trade Commission located?
FTC Headquarters (600 Pennsylvania Ave, NW) | Federal Trade Commission.
How do I report to the Federal Trade Commission?
The FTC encourages consumers to file a complaint whenever they have been the victim of fraud, identity theft, or other unfair or deceptive business practices. They can do it online, or by calling the FTC’s Consumer Response Center at 1-877-FTC-HELP (1-877-382-4357).
What is an Commission?
A commission is also an order for someone to do something and get paid: The artist received a commission for a new painting to hang in the building lobby. And a commission is a high-ranking position in the armed forces, or a special committee that controls or investigates something.
What is commission example?
A fee paid for services, usually a percentage of the total cost. Example: City Gallery sold Amanda’s painting for $500, so Amanda paid them a 10% commission (of $50).