Identify 2 of the economic regulatory agencies the United States has in place to protect the
public and provide one situation for each of them that would help them serve their purpose.
(4 points)
Two of the economic regulatory agencies in the United States are:
1. Securities and Exchange Commission (SEC): One situation where the SEC can serve its purpose is in cases of insider trading. If an individual or group of individuals possess non-public material information about a company and use it to trade securities, it is considered insider trading, which is illegal. In such a scenario, the SEC investigates and prosecutes these cases to protect the public from fraudulent activities and ensure fair and transparent capital markets.
2. Federal Communications Commission (FCC): The FCC is responsible for regulating communication by radio, television, wire, satellite, and cable in the United States. One situation where the FCC can serve its purpose is in regulating media ownership. For instance, if a media conglomerate acquires too many television stations in a particular market, it would result in excessive concentration of media power, potentially stifling diversity of voices and viewpoints. The FCC would step in to review and possibly limit the acquisition to ensure a competitive and diverse media landscape for the public.