Economic Rights and Regulations
Property Rights
A key element of any society operating under a free market is the ability to own private property. Are there any limitations on private property? What role does the government play in protecting people’s property? On this episode of WUSG News, Cain S. Hayek will discuss these questions and more. Click the player button to begin this episode.
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Market Regulation
Pure market economies do not exist, as there is always some level of regulation by the government. The American economic system is no different. This episode will explore the aspects of the economy subject to government regulation and the government agencies responsible for enforcing these regulations. Click the player button to get started.
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Fair Labor Standards Act
You have learned that the Department of Labor is responsible for enforcing laws that regulate labor. One of the laws it regulates is the Fair Labor Standards Act (FLSA). Adopted in 1938, the FLSA established a national minimium wage, overtime pay, recordkeeping of employee time and pay, and child labor standards. For more information about the FLSA, visit the Department of Labor's website.
Economic Rights and Regulations Review
Now that you have studied property rights and market regulations in the American economic system, it is time to review everything you have learned. Please complete this non-graded interactivity. You will be asked a series of questions about the information covered in this topic. Read the directions for each question and choose the best possible answer. After you select your answer, click submit to review it. Click the player button to begin the review.