Terms

Annual Percentage Rate: a percentage rate which includes interest and finance charges for the year.

Antitrust Laws (purpose of): the body of statutes and principles that regulate business conduct so as to promote the forms of competition that benefit society.

Authorization Cards (Union Election): The first step in forming a union is to get the relevant workers to sign authorization cards. At least 30% of the workers to be represented must sign cards.


Business polluters (under what theories may lawsuits be brought against business polluters): injured party may sue a business polluter in tort under the negligence, nuisance and strict liability theories.

Clayton Act: addresses specific acts that are considered anticompetitive (price discrimination, exclusionary practices, exclusive dealing contracts…)

Clayton Act amended by The Robinson-Patman Act and the Celler-Kefauver Act

Closed Shop: A firm that requires union membership of its workers as a condition of obtainin...