FCC and Market Economy

FCC and Market Economy
Dhananjay Parkhe 5k+

Amateur Artist. Learning New Skills. Learning to enjoy the joy of my creation.

FCC and Market Economy

A U.S. government agency charged with the task of regulating all forms of interstateand international communication. The agency was created via the Communications Act of 1934, originally for the purpose of regulating radio licensing.
Over the years, as technology developed, various other forms of communication fell under the agency’s jurisdiciton, including television and telecommunication mediums. The agency strives to reach several broad goals, including providing everyone with access to broadband services, and creating efficient ways to communicate during emergency situations.
The FCC has also created laws which speak to decency, and can punish entities for broadcasting content that doesn’t follow the regulations. The Commissioners of the FCC are appointed by the President, and generally serve five year terms

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Term of the Day

Market economy

free market system in which decisions regarding resource allocation,production, andconsumption, and price levels and competition, are made by the collective actions of individuals or organizations seeking their ownadvantage. In all market economies, however, freedom of the markets is limited and governments intervene occasionally to encourage or dampen demand or to promote competition to…

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Usage Example
Opposite of a centrally planned economy, a market economy allows a country’s citizens and businesses to make economic decisions regarding pricing and supply and demand.
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