ENT-Government regulation part 2

Which are the areas that the government regulate?
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Slide 1: Slide
EntrepreneurshipSecondary Education

This lesson contains 20 slides, with interactive quizzes and text slides.

time-iconLesson duration is: 60 min

Items in this lesson

Which are the areas that the government regulate?
Answer in the chatbox.

Slide 1 - Slide

Chapter 8.2:
Handling the government regulation
Pages 181-189

Slide 2 - Slide

Objectives
Summarize the laws that regulate trade
Compare the truth in Lending and truth in advertising
Evaluate the tax laws


Slide 3 - Slide

Introduction
In general, the American government allows businesses to compete in the marketplace with relative freedom. However, since the early 1800s, many laws have been enacted that regulate and restrict business practices. These key trade laws were created to preserve competition and fairness in the marketplace.

Slide 4 - Slide

Task 1
 Categorize the laws listed under the heads Business Owner,
Employee, Consumer. You should determine who is affected by the law. Some laws may fit into more than one category.

Slide 5 - Slide

Arrange the items into business owners, employees, and consumers: Equal opportunity, federal unemployment tax; price discrimination, consumer protection child labor, wrongful termination, sexual harassment, Americans with Disabilities act, FLMA family medical leave, equal pay for equal work, fair labor standards, workplace health and safety, uniform commercial code, truth in lending, truth in advertising, sales tax.

Slide 6 - Open question

Slide 7 - Link

What are the laws that regulate trade?

Slide 8 - Mind map

What is the charging of different prices for the same product or service in different markets or to different customers?
timer
1:00
A
Fair labor standards
B
Price discrimination
C
Family Medical Act
D
Workplace Safety and health

Slide 9 - Quiz

timer
1:00
What is a group of laws that
regulates commercial business transactions?

Slide 10 - Mind map

Truth in Lending
Those involved in retail businesses must familiarize themselves with the Consumer Credit Protection Act. This act requires
those who give credit to reveal all terms and conditions of their
credit agreements. As a result, it is called the Truth in Lending
Act. Like price discrimination laws, it is enforced by the Federal
Trade Commission.

Slide 11 - Slide

Truth in advertising
The Federal Trade Commission is also concerned with protecting customers from false and misleading advertising. The laws that address this trade issue are sometimes called truth-in-advertising laws

Slide 12 - Slide

Find the difference between truth in lending and truth in advertising.

Slide 13 - Open question

Which among the following is involves
advertising at a very low price to attract customers who are
then persuaded to switch to a more expensive product?
A
Bait and switch advertising
B
Advertising
C
Switch advertising
D
Wrongful advertising

Slide 14 - Quiz

Which among the following is when you can not offer a reduced price on your product unless it has been offered to the public at the regular price for a period of time?
A
Bait and switch
B
Misleading ads
C
Sale price
D
Price comparisons

Slide 15 - Quiz

Tax laws
All for-profit business owners are responsible for certain taxes,
including sales, payroll, unemployment, and income tax.

Slide 16 - Slide

In groups: Choose one of the following to research: sales tax, payroll taxes, federal unemployment tax, or business income taxes. Do Internet and book research on their chosen topic. Research the history of the laws, and the reasoning behind them. Create a summary of their findings.

Slide 17 - Open question

Which among these is a tax you need to deduct from the earnings of people?
A
Income Tax
B
Sales Tax
C
Payroll tax
D
Excise duty

Slide 18 - Quiz

What are the different taxes paid by a corporate?

Slide 19 - Mind map

Give the laws that the government uses to regulate the businesses.

Slide 20 - Mind map