With the Increased Globalization of Business,and the Lowering of Trade

question 66

Essay

With the increased globalization of business,and the lowering of trade barriers through agreements such as the North American Free Trade Agreement,should the determination of the relevant market be modified? For products or services where there are foreign firms competing in the United States market,are the antitrust laws obsolete?

---

Definitions:

Rule

A prescribed guide for conduct or action established by an authority, principle, or procedure that governs behavior.

Omission

The act of leaving out or excluding something, either intentionally or inadvertently, from consideration or action.

Commission

A fee paid to an agent or employee for transacting a piece of business or performing a service.

Misrepresentation

A false statement or lie that deceives, misleads, or presents an inaccurate picture of the reality.