D080 - Set 4|Complete A+ Graded Study Guide

D080 - Set 4|Complete A+ Graded Study Guide Consumer protection policy used to limit unfair business practices related to competition and control of prices. Antitrust laws A market in which no individual economic actor can affect the price of a good, and there are no barriers to enter or exit the market. Perfectly competitive market The first American antitrust policy. Established in 1890, it dealt with limiting the power of price-controlling cartels. Sherman Antitrust Act Perfect competition 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? Reduced 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? World Trade Organization 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? Understanding that the environment not only belongs to everyone to enjoy but is also everyone's shared responsibility. Collective environment Branch of the United Nations that deals specifically with worldwide environmental problems. United Nations Environment Programme (UNEP) Universal global climate deal aimed at keeping long-term global temperature increase at below 2°C. Paris Agreement American environmental act from the 1970s that requires federal agencies to prepare environmental impact statements for every recommendation or report. National Environmental Policy Act (NEPA) American agency established in the 1970s with the goal of monitoring the environmental practices of industry. The Environmental Protection Agency (EPA) A 2010 industrial accident that is considered the largest oil spill in history. Deepwater Horizon oil spill (BP oil spill) U.S. law that strengthened the Environmental Protection Agency's ability to prevent and respond to oil spills. Oil Pollution Act of 1990 A US federal law governing water pollution. The Clean Water Act Environmental Protection Agency Which governmental entity was created to provide regulatory authority regarding pollution by industry? Shared duty Which type of duty is required to take care of the collective environment across the nation? Sovereign rights of nations What makes the enforcement of United Nations Environmental Program regulations difficult? A factory that is guilty of some sort of labor abuse or violation such as unsafe working conditions, employment of children, mandatory overtime, unsafe working conditions, and so on. Sweatshop A nongovernmental organization involved in anti-sweatshop activities and the implementation of labor laws. National Labor Committee Developing and imposing a company internal code of conduct for vendor labor practices. Which action is used by companies wishing to avoid working with vendors who use sweatshops? Require that the factories be available for inspections. A major footwear brand company is contracting the manufacturing of its products to a contractor's manufacturing plant overseas. The footwear company has been accused of turning a blind eye to sweatshop practices at other overseas contract locations before. How should the footwear company ensure that the contractor will comply with the standards set forth in the code of conduct that explicitly prohibit this practice? The age at which a person becomes an adult. What did the Worst Forms of Child Labor Convention, 1999 define? Maritime Labor Convention, 2006 Which convention protects decent working hours for a cruise ship director who travels in international waters? This convention defines a child as a person under 18 years of age and aims to eliminate all practices of slavery or those similar to slavery, such as the sale and trafficking of children, debt bondage, forced or compulsory recruitment of children for use in armed conflict, child prostitution, and so on. Worst Forms of Child Labour Convention, 1999 This convention sets out seafarers' rights to decent work conditions. It applies to all seafarers, including those who provide passenger services on cruise ships and commercial yachts. The Maritime Labour Convention (MLC), 2006 (Seafarers' Bill of Rights) This convention details specific rights and protections for domestic workers working both in their home country and as migrant workers. Domestic Workers Convention, 2011 A legally enforceable promise. Contract A structure of law where those at the top govern those at the bottom. Vertical structure of law Source of contract law in the United States. Uniform Commercial Code (UCC) Structure of law where neither party is in a legally dominant position over the other. Horizontal structure of law United Nations treaty that applies to the international sales of commercial goods. UN Convention on Contracts for the International Sale of Goods (CISG) The party who has been affected can seek damages. Which result occurs when a legally enforceable contract between two businesses from different countries is broken? The common law and the Uniform Commercial Code. Which two primary sources of law govern contracts in the United States? Horizontal How is contract law structured as it applies to global business among nations?