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Unit 2

Unit 2. Role of the Government. Government Structures. Capitalism- an economic system in which investments and ownerships of economic resources are maintained by private individuals Examples: USA Germany . Government Structures. Capitalism Advantages: Limited Government Controls

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Unit 2

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  1. Unit 2 Role of the Government

  2. Government Structures • Capitalism-an economic system in which investments and ownerships of economic resources are maintained by private individuals Examples: USA Germany

  3. Government Structures Capitalism Advantages: • Limited Government Controls • Competition • High Productivity/Efficiency Capitalism Disadvantages: • Rich stay richer, Poor stay poorer • Environmental Issues • Lack of concern for those who cannot keep up Capitalism Capitalism

  4. Government Structures • Socialism-an economic system that has all of the people have a shared interest in the ownership of economic resources that works to make it a group decision. Examples: Finland, Sweden, Netherlands, Norway

  5. Government Structures Socialism Advantages: • All needs are met for all members • All people contribute to society in some way. • Freedom for works allows people to explore the arts. Socialism Disadvantages: • Hard to provide incentives to work harder. • Lack of quantity of production • Less Competition Socialism Socialism

  6. Government Structures • Communism-an economic system based on the investments and ownerships are held in common-not private individuals. • Examples: China Cuba North Korea

  7. Government Structures Communism Advantages: • Stable System • Common Goals • Efficient Distributions Communism Disadvantages: • Hard to maintain common goals • Hard to stop hierarchy forming • Blocks outside forces Communism Communism

  8. Consumer Advocates • A person or group who works on the behalf of consumers • 1. investigate business practices • 2. expose unfair or dangerous situations • 3. encourage the passage of laws

  9. Famous Advocates • Harvey Wiley-Dr. who helped to get the Food & Drug Act 0f 1906-mislabed items, unsafe chemicals being added • Upton Sinclair-wrote The Jungle and helped to get the Meat Inspection Act of 1906-unsanitary conditions in meat processing plants

  10. Consumer Advocates • Ralph Nader-wrote Unsafe at Any Speed, 1965-helped to get laws changed to increase the safety on vehicles in the Us-he has worked tirelessly on many consumer causes • Consumer Report-(Consumer Union)-a publication dedicated to helping consumers evaluate products in a fair way • News Reporters-consumer complaints

  11. Government Agencies • BBB Better Business Bureau-an organization that helps to resolves issues for consumers regarding local companies performance. • EPA-Environmental Protection Agency(1970) regulates environmental issues that effect the community and business. • Attorney General-is another source to go to with unlawful business practices.

  12. Government Agencies FTC-Federal Trade Commission (1914)enforces laws against dishonest advertising. Protects consumers rights in the areas of credit transactions, product labeling and privacy. CPSC-Consumer Product Safety Commission (1972)works to protect the public against unreasonable risks and to develop safety standards for many household products. FCC-Federal Communications Commission (1934)regulates interstate and international communications by radio, television, wire, satellite, and cable. It provides consumer information and addresses consumer complaints related to these areas.

  13. Consumer Bill of Rights • Right to Safety • Right to be Informed • Right to Choose • Right to be Heard • Right to Redress • Right to Consumer Education • Right to a Healthy Environment

  14. Types of Warranties Full Warranty-is very specific written guarantee. Limited Warranty-is a written warranty that does not meet the standards of a full warranty. Implied Warranty-unwritten guarantee that the product will work. Extended Warranty-purchase of an extra warranty that will last beyond the full warranty.

  15. Consumer Complaint Process • Redress-Start with where you purchased the item. • Next go to store manager if necessary • Speak to manufacturer of product. • Arbitration-Impartial 3rd Party settles dispute • Contact a government agency that will help • FTC-can issue Cease & Desist Order • Last step lawsuit if necessary-Class Action Suit

  16. Consumer Complaint Letter Contact information : Date, address of company, return address Information: Details of issue, Receipts, Dates of visits to store People who you spoke with

  17. Consumer Complaint Letter • Issue: Problem with item needs to be specific • Statement: How you want item resolved.

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