WGU D080 Managing in a Global Business Environment | Exam Questions and Answers 100% Correct(SCORED A+)

A farmers market has many vendors and consumers who all sell and buy the same produce at the same price. Which type of market is represented? - ANSWER - Perfect competition A sole, national telephone company was found violating antitrust laws and was forced to separate into regional companies. What caused the violation of the antitrust laws? - ANSWER - Reduced competition Many countries from several geographic regions are accused of dumping steel into the U.S. market at unfairly low prices. Which entity can the United States appeal to in order to correct this apparent market manipulation? - ANSWER - World Trade Organization Are aimed at regulating consumer affairs and safeguarding the market from anticompetitive practices, particularly from large companies that may hold a monopoly. - ANSWER - Antitrust laws Attempts to establish global standards in competitive markets in conjunction with the internal competitive laws that govern each nation individually. - ANSWER - The World Trade Organization (WTO) A person who needs, uses, or has used a particular service or product and who are vulnerable when there is little market competition because corporations can control prices. - ANSWER - Consumers Was the first American antitrust policy. It dealt with limiting the power of price-controlling cartels. Its scope has since been expanded to include a range of anticompetitive practices. - ANSWER - The Sherman Antitrust Act (1890) ________________ has a centralized administrative system for antitrust enforcement, whereas antitrust enforcement in the ___________ is considered a matter of criminal law