Federal Trade Commission
Federal Trade Commission
The Federal Trade Commission (FTC) is an independent agency of the United States government. Its principal mission is the promotion of consumer protection and the elimination and prevention of anti-competitive business practices, such as coercive monopoly.
Pronunciation
Fed·er·al Trade Com·mis·sion | \ ˈfe-də-rəl \ ˈtrād \ kə-ˈmi-shən \
Etymology
The term "Federal Trade Commission" is derived from its role as a federal agency in the United States tasked with trade regulation and consumer protection. The term "federal" refers to the national level of government, "trade" refers to commerce or business, and "commission" refers to the group of officials tasked with these responsibilities.
Related Terms
- Consumer Protection: The practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace.
- Antitrust Laws: A collection of federal and state government laws that regulates the conduct and organization of business corporations, generally to promote competition for the benefit of consumers.
- Monopoly: A situation in which a single company or group owns all or nearly all of the market for a given type of product or service.
- Competition Law: Law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies.
See Also
- Federal Communications Commission
- Consumer Financial Protection Bureau
- United States Department of Justice
External links
- Medical encyclopedia article on Federal Trade Commission
- Wikipedia's article - Federal Trade Commission
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