8. CSR Overview CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms.
26. Agreements on price initiatives, price ranges, price targets, collusion between competitors on floor prices are generally illegal under antitrust laws
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29. Just Price: one in which both buyer & seller are given what is due them (price a manufacturer charges its customers for G&S is total cost of investment plus normal profit)
45. Microsoft's IE was introduced in 1995 due to being incorporated into the Windows 95 OS
46. Market share diminished from Netscape who then charged Microsoft with anti competitive behavior
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48. Oligopoly: Agreements between competitors Why is Oligopoly wrong? 1) It is basically a monopoly 2) No competition = no benefit to the consumer -no improved product quality -no better price -no choice
58. Grey Areas An agreement between competitors to adopt standards that require fire-resistant materials for certain products. Con: The agreement to adopt is restrictive. The manufacturers have limited their own ability to use other materials & have limited supplier choice Pro: Will benefit consumers in terms of safety Q: Is this a Cartel? Should this be illegal?
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61. They provide incentives for people to produce scientific & creative works that benefit society at large
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65. Intellectual Property Rights Q: By assigning exclusive rights to an idea/thing, doesn't it make IPR anti-competitive? A: Trick Question. IPR has an expiration date.
66. Intellectual Property Rights By giving IPR a termination date, it allows society to benefit from the idea/thing after the inventor has had an opportunity to earn a good/fair/reasonable reward. Note: trademarks never expire
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68. Intellectual Property Rights Is piracy truly a 'Victimless' Crime? No! 1) Creators are robbed of income supposed to be for them 2) Consumers receive defective products