The Financial Authority That Has Responsibility for the Protection of Consumers

question 55

Multiple Choice

The financial authority that has responsibility for the protection of consumers, investors and creditors in Australia is:

• A)the Reserve Bank of Australia
• B)the Australian Prudential Regulation Authority
• C)the Australian Securities and Investments Commission
• D)the Australian Treasury
• E)the Council of Financial Regulators.

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Definitions:

Widget Manufacturer

A company or entity engaged in the production of small mechanical or electronic devices or gadgets.

Relevant Geographic Market

An area in which a company competes for business, used in assessing competitive dynamics and antitrust concerns.

Robinson-Patman Act

A U.S. law enacted in 1936 designed to prevent anticompetitive practices by prohibiting price discrimination on the sale of goods to equally situated distributors.

Price Discrimination

A pricing strategy where a seller charges different prices to different customers for the same product or service, not based on costs.