Regulation of Business

6-1 Discussion: Regulation of Business
Name
Institution

6-1 Discussion: Regulation of Business
The federal trade commission (FTC) is a united state’s agency mandated to protector consumers against deception and fraud business practices (Ohlhausen, 2014). The agency does this by collecting complains, investigating and prosecuting companies and people found breaking the law. FTC also creates laws to allow free and fair market as well as making consumers aware of their rights. Besides, the agency ensures access to quality goods and services to consumers at competitive prices. Through the bureau of competition, the agency creates and enforces antitrust laws to build a free market economy (USA.gov., 2018). The bureau controls mergers, agreements among competitors, agreements between manufacturers and product dealers and monopolies which may result in inferior quality goods and unfair prices. The agency receives and evaluates merger and acquisitions to find out how the consumer will be affected before a license is issued.
The role of FTC is justified in that it controls gaining of excess corporate power which results to low-quality goods and services as well as unfavorable prices (Pearl & Rosenbaum, 2013). Merged and acquired companies sometimes gain the ability to control the political and economy aspect of a country which may hinder their regulation towards producing cheap goods. Also, monopolies created hike prices of products and present consumers with few choices …