1. Government and Laws
Chapter 6.1

2. 6.1 – Role of U.S. Government in Private Enterprise System
Government’s actions have a tremendous impact on business and its operations.

3. Role of U.S. Government in Private Enterprise System
1. Service Provider and Customer
Government spends a lot of money to carry out its responsibilities. Close to 1/3 of the country’s gross domestic product (GDP) is due to government spending.
2. Regulator
Federal Agencies regulate
Products
CPSC Consumer Product Safety Commission
FDA Food & Drug Administration
Employees
EEOC Equal Employment Opportunity Commission
OSHA Occupational Safety and Health Administration
Environment
EPA Environmental Protection Agency
Businesses
SEC Securities & Exchange Commission
YouTube Clips

4. Role of U.S. Government in Private Enterprise System
3. Enforcer of the Free Enterprise System
FTC -- Federal Trade Commission
Enforces the free enterprise system by protecting consumers from unfair and deceptive business practices.

5. Role of U.S. Government in Private Enterprise System
4. Monitor of the Economy
Government monitors our economy and controls our monetary supply through the Federal Reserve System.
Current Chairman
Jerome H. Powell
Sworn in on 2/5/18

6. Role of U.S. Government in Private Enterprise System
5. Business Supporter
Small Business Administration (SBA) provides support to small businesses.
Branches of Government:
Executive – enforces laws and regulations; President can veto laws passed by Congress.
Legislative- Congress debates and votes on new laws and regulations to send to President for approval.
Judicial – Supreme Court and lower courts interpret, apply, and administer laws.