PowerPoint Presentation Section 8.2 Pages 128- 137.

PowerPoint Presentation

Section 8.2Section 8.2 Pages 128-Pages 128-

137137

What you’ll learnWhat you’ll learn The laws that affect the The laws that affect the hiring of employeeshiring of employees

The laws dealing with trade The laws dealing with trade issuesissues

The laws dealing with taxesThe laws dealing with taxes

8.28.2 Handling Government Handling Government RegulationsRegulations

Why it’s importantWhy it’s important Handling government Handling government regulation is an ongoing regulation is an ongoing expenseexpense

Learning regulations while Learning regulations while researching business can researching business can prevent problems.prevent problems.


Key TermsKey TermsEqual Opportunity Employment Equal Opportunity Employment

CommissionCommissionwrongful terminationwrongful terminationprice discriminationprice discriminationUniform Commercial CodeUniform Commercial Codewarranty of merchantabilitywarranty of merchantabilitybait-and-switchbait-and-switchFICAFICA


I. BUSINESS LAWSI. BUSINESS LAWS


II. LAWS THAT AFFECT II. LAWS THAT AFFECT EMPLOYEESEMPLOYEESThere are many laws that There are many laws that affect the hiring, firing, and affect the hiring, firing, and paying of employees.paying of employees.


III. LAWS AGAINST III. LAWS AGAINST DISCRIMINATION OF DISCRIMINATION OF HIRINGHIRINGA.A. The The Equal Employment Equal Employment

Opportunity Commission Opportunity Commission (EEOC)(EEOC) protects the rights protects the rights of employees.of employees.


B.B. The EEOC ensures that The EEOC ensures that employers do not employers do not discriminate based on age, discriminate based on age, race, color, national origin, race, color, national origin, religion, gender, or physical religion, gender, or physical challenge.challenge.


IV. WRONGFUL IV. WRONGFUL TERMINATIONTERMINATIONWhen an employee is fired When an employee is fired for reasons, it is called for reasons, it is called wrongful termination. wrongful termination.


V. EQUAL PAY ACT OF V. EQUAL PAY ACT OF 19631963This act states that all This act states that all employers must pay men employers must pay men and women the same wage and women the same wage for the same work. for the same work.



VI. FAIR LABOR VI. FAIR LABOR STANDARDS ACTSTANDARDS ACTA.A. The Fair Labor Standard The Fair Labor Standard

Act established a minimum Act established a minimum wage and maximum wage and maximum working hours. working hours.


B.B. Children under 16 cannot work Children under 16 cannot work full time, unless employed by full time, unless employed by their parents.their parents.

VII. OCCUPATIONAL VII. OCCUPATIONAL SAFETY AND HEALTH SAFETY AND HEALTH ACTACTOSHA was passed in 1970 to OSHA was passed in 1970 to ensure safe and healthy ensure safe and healthy employee working employee working conditions.conditions.


VIII. DEALING WITH VIII. DEALING WITH TRADE ISSUESTRADE ISSUESKey trade laws were Key trade laws were created to preserve created to preserve competition and fairness in competition and fairness in the workplace.the workplace.


IX. PRICE IX. PRICE DISCRIMINATIONDISCRIMINATIONPrice discriminationPrice discrimination occurs occurs when a business sells the when a business sells the same product to different same product to different people at different prices.people at different prices.



X. CONSUMER PROTECTIONX. CONSUMER PROTECTIONMost laws are designed to Most laws are designed to

protect consumers.protect consumers.A.A. Unscrupulous sellers Unscrupulous sellersB.B. Unreasonable credit terms Unreasonable credit termsC.C. Unsafe products Unsafe productsD.D. Mislabeling of products Mislabeling of products



XI. THE FOOD AND DRUG XI. THE FOOD AND DRUG ADMINISTRATIONADMINISTRATION

The FDA researches and tests The FDA researches and tests new products, and inspects the new products, and inspects the operations of food and drug operations of food and drug manufacturers.manufacturers.


XII. THE CONSUMER XII. THE CONSUMER PRODUCT AND SAFETY PRODUCT AND SAFETY COMMISSIONCOMMISSION

The CPSC creates safety The CPSC creates safety standards for products.standards for products.


XIII. THE CONSUMER XIII. THE CONSUMER PRODUCT AND PRODUCT AND LABELING ACTLABELING ACT


A.A. The Consumer Product and The Consumer Product and Labeling Act requires that Labeling Act requires that manufacturers truthfully list all manufacturers truthfully list all raw materials used in the raw materials used in the production of products.production of products.


B.B. It also requires that a It also requires that a product’s size and weight be product’s size and weight be on the label.on the label.


XIV. THE UNIFORM XIV. THE UNIFORM COMMERCIAL CODECOMMERCIAL CODEA.A. The The Uniform Commercial Uniform Commercial

Code (UCCCode (UCC)) applies to applies to sales transactions between sales transactions between merchants. merchants.


B.B. The UCC covers everything from The UCC covers everything from sales to bank deposits and sales to bank deposits and investment securities.investment securities.


XV. FORMATION OF XV. FORMATION OF CONTRACTSCONTRACTS

A valid contract includes the A valid contract includes the terms of price, place, delivery terms of price, place, delivery date, and quantity. date, and quantity.


XVI. WARRANTIES AND XVI. WARRANTIES AND PRODUCT LIABILITYPRODUCT LIABILITY

A A warranty of merchantabilitywarranty of merchantability assures that a product is of at assures that a product is of at least average quality and fit least average quality and fit for the purpose for which it for the purpose for which it was intended.was intended.


XVII. TRUTH IN LENDINGXVII. TRUTH IN LENDINGA.A. The Truth in Lending Act The Truth in Lending Act

requires those who give requires those who give credit to reveal all the credit to reveal all the terms and conditions of terms and conditions of their credit agreement.their credit agreement.


B.B. The Truth in Lending Act is The Truth in Lending Act is regulated by the FTC and applies regulated by the FTC and applies to anything purchased over a to anything purchased over a period of time greater than four period of time greater than four months.months.


XVIII. TRUTH IN XVIII. TRUTH IN ADVERTISINGADVERTISINGA.A. Misleading ads are Misleading ads are

illegal.illegal.B.B. Sales prices only may be Sales prices only may be

offered after regular offered after regular prices have been prices have been established. established.


C.C. Price comparisons must Price comparisons must include actual sold-for include actual sold-for amounts. amounts.

D.D. Bait-and-switchBait-and-switch advertising advertising uses a lower priced item to lure uses a lower priced item to lure potential customers into a potential customers into a store.store.


XIX. PAYING TAXESXIX. PAYING TAXES

All business owners whose All business owners whose goal is to make a profit are goal is to make a profit are responsible for certain taxes.responsible for certain taxes.


A.A. Sales tax: a percentage of the Sales tax: a percentage of the price of an item that goes to a price of an item that goes to a state or local government. state or local government.

B.B. Payroll tax: deducted from Payroll tax: deducted from employee earnings.employee earnings.


C.C. FICAFICA: Federal Insurance : Federal Insurance Contribution Act, also known as Contribution Act, also known as social security.social security.

D.D. The Federal Unemployment Tax The Federal Unemployment Tax Act (FUTA): designed to help Act (FUTA): designed to help workers who are temporarily workers who are temporarily unemployed.unemployed.


E.E. Business Income Tax: federal Business Income Tax: federal and possibly state and local and possibly state and local taxes on the income a business taxes on the income a business earns.earns.


XX. GETTING LEGAL XX. GETTING LEGAL ADVICEADVICEA.A. AmericanAmerican Bar Association Bar Association

B. B. National Resource Center National Resource Center for Consumers of Legal for Consumers of Legal ServicesServices


C.C. Commissioner of Patents and Commissioner of Patents and TrademarkTrademark

D.D. IRS IRS

E.E. Local Library Local Library

F.F. Internet Internet


End of Section 8.2End of Section 8.2

PowerPoint Presentation Section 8.2 Pages 128- 137.

Documents

labeling act slide

business laws

equal pay act

act states

consumer product

trade issues key trade

discrimination of hiring

unsafe products