ENTREPRENEURSHIP

Detailed explanation-1: -The FTC takes action to stop and prevent unfair business practices that are likely to reduce competition and lead to higher prices, reduced quality or levels of service, or less innovation.

Detailed explanation-2: -The FTC deals with issues that touch the economic life of every American. The FTC is the only federal agency with both consumer protection and competition jurisdiction in broad sectors of the economy.

Detailed explanation-3: -The FTC enforces federal consumer protection laws that prevent fraud, deception and unfair business practices. The Commission also enforces federal antitrust laws that prohibit anticompetitive mergers and other business practices that could lead to higher prices, fewer choices, or less innovation.

Detailed explanation-4: -The Federal Trade Commission Act bans “unfair methods of competition” and “unfair or deceptive acts or practices.” The Supreme Court has said that all violations of the Sherman Act also violate the FTC Act.

Detailed explanation-5: -Generally, the antitrust laws require that each company establish prices and other competitive terms on its own, without agreeing with a competitor.