Certification in Supplier Diversity Practice Exam

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When was the Federal Trade Commission (FTC) established?

1910
1914
1920
1936

The correct answer is: 1914

The Federal Trade Commission (FTC) was established in 1914. This was part of the U.S. government's efforts to promote fair competition and protect consumers, following growing concerns over monopolies and unfair business practices in the early 20th century. The establishment of the FTC was a significant step in regulating commerce and ensuring that businesses operated within fair and lawful parameters, which aligns with the broader objective of fostering a competitive market. The FTC's formation has played a pivotal role in consumer protection and antitrust enforcement, responsibilities it continues to uphold to this day. Understanding the year of its establishment is essential for comprehending the historical context of regulatory agencies in the United States and their importance in supplier diversity and fair trade practices.