Question

The Federal Trade Commission and the Federal Food and Drug Administration are government entities that investigate concerns relevant to fraudulent or misleading advertisements or product descriptions/contents. Your assignment is to research these entities (and any governmental agencies) that do such investigations and the outcome/consequences/sentence to a corporation when they are involved. Give your opinion as to whether such governmental agencies are necessary or can corporate entities self-monitor? Give 2 specific examples. Post your findings.

Answer 1

Federal trade commission is an entity in the United States of America that world to ensure that there is trust between the company and the parties. It also ensures proper implementation of consumer protection laws in the country. It ensures that there are no unfair or deceptive acts in the practices of commerce and business. The commission also prevents any monopoly in the market. It is a law enforcement agency that ensures all the companies adhere to the country's consumer protection laws. The Federal Food and Drug Administration is responsible for protecting the consumers' health by ensuring that the biological drugs and medicines are safe for public use. The commission plays a vital role in the coronavirus pandemic because it ensures that the human trials are according to the law. The commission also ensures the safety of food supplies so that the consumers do not fall sick. Such independent federal entities are essential for the proper functioning and execution of the country's laws. The enterprises cannot function properly without rules and regulations of these entities. The companies will not follow the laws if there will be no supervision. For instance: If the commission does not check the food products beforehand, the manufacturers might also produce adulterated food. Hence, it can affect the public adversely. The second example is the degraded quality of the products. In case there will be no watchdog of the quality, the companies will produce degraded, and below standard products. Hence, the government agencies are essential to exist.