Collusion is an agreement between two or more parties in an effort to fraud or deceive. Collusion is often practiced to coordinate efforts among firms, effectively lessening the degree of competition among them. As a result, collusion can be found in many areas of commerce.

Collective bargaining is the process through which representatives of UNIONs and management negotiate a labor agreement. The WAGNER ACT (National Labor Relations Act, 1935) defines collective bargaining as follows.

A closely held or closed corporation is a firm whose common stock is owned by only a few individuals (often management) and is not publicly traded.

Growing public awareness of water pollution and concern for controlling it led to enactment of the Federal Water Pollution Control Act Amendments of 1972.

The Clean Air Acts (1970, 1977, and 1990) initiated and then revised a variety of programs to reduce air pollution in the country. The acts require the Environmental Protection Agency (EPA) to set national health-based airquality standards to protect against ozone depletion, sulfur emissions, carbon monoxide, lead, and other air-borne pollutants. The 1990 revisions created the first attempt at market-based systems, POLLUTION RIGHTS, to address air pollution.

The Clayton Antitrust Act (1914) specified and forbade activities that reduced COMPETITION. The act expanded on antitrust policy efforts initiated by the SHERMAN ANTITRUST ACT (1890), which was considered by many to be not specific enough and open to considerable judicial interpretation.

Classical economics is the macroeconomic school of thought that suggests that real GROSS DOMESTIC PRODUCT (GDP) is determined by aggregate SUPPLY, while the EQUILIBRIUM price level is determined by aggregate DEMAND.

A class action is a device where large numbers of individuals whose interests are sufficiently related may bring suit. Thus it is more efficient to adjudicate their rights or liabilities as a group in a single action than to do so in a series of separate individual suits. Most class actions are called “plaintiff class actions,” although in some cases the action may be brought against a defendant class as a defendant class action.

As defined in Black’s Law Dictionary (7th ed.), Civil Rights Acts are “several federal statutes enacted after the Civil War (1861–1865) and, much later, during and after the Civil Rights movement of the 1950s and 1960s, and intended to implement and give further force to the basic rights guaranteed by the Constitution, and especially prohibiting discrimination in EMPLOYMENT and education on the basis of race, sex, religion, color, or age.”

Civil procedure refers to the rules by which civil (as opposed to criminal) legal proceedings are conducted. The Federal Rules of Civil Procedure apply throughout the FEDERAL COURTS. The rules of civil procedure in state courts can vary considerably.

The Civilian Conservation Corps (CCC) was one of the most popular “New Deal” programs initiated by the Franklin Roosevelt administration during the Great Depression.

The Civil Aeronautics Board (CAB) regulated the U.S. airline industry until 1984.

A circular flow model is a diagram illustrating how the major sectors in a mixed-CAPITALISM economy fit together. Circular flow models show how the value of output equals INCOME in an economic system. The model also demonstrates the MUTUAL INTERDEPENDENCE of the various participants in an economy.

Churning is excessive trading in an investor’s portfolio to generate commissions for the stockbroker. Sometimes brokers or INVESTMENT advisors are given discretionary authority over an investor’s account. Many investors do not want to or do not have the knowledge necessary to actively manage their investments.

The chief financial officer (CFO), the highest-ranking financial executive of an organization, is responsible for all financial operations.

The chief executive officer (CEO) is the primary leader in an organization. Though he or she may be known by many other names, such as president, executive director, and chief administrator, the CEO’s role is more or less the same.

The Chicago Mercantile Exchange (CME) is a market exchange where commodity and financial FUTURES and OPTIONS contracts are bought and sold. Created in 1898 as the Chicago Butter and Egg Board, the CME is used primarily by investors, managers, and broker/dealers to reduce risk in business transactions.

The Chicago Board of Trade (CBOT) is a market exchange where commodity and financial FUTURES and OPTIONS contracts are bought and sold. Created in 1848, the CBOT is used primarily by investors, managers, and broker/dealers to reduce risk in business transactions. Initially the CBOT focused on grain trade, allowing farmers and other agricultural- industry members to hedge or reduce their risk of price changes by using futures contracts.

The chain-of-command principle refers to the relationship of the reporting mechanism within an organization.

A Certified Public Accountant (CPA) is an individual who performs FINANCIAL ACCOUNTING services for the general public for a fee. While all CPAs are accountants, not all accountants are CPAs.

See TIME DEPOSITS.

A centrally planned economy is an economic system where the factors of PRODUCTION (RESOURCES) are controlled by the state. Resource allocation plans and decisions are made by the central government and then promulgated through government agencies.

The Center for Science in the Public Interest (CSPI) is an independent nonprofit organization focusing on food safety, nutrition, and alcohol abuse. Founded in 1971 by Michael Jacobson and headquartered in Washington, D.C., the CSPI has over 800,000 members and publishes Nutrition Action Healthletter, a widely read and respected source for information on health and nutrition.

Cash management is the cash collection, payment, and INVESTMENT activities involved in managing a business. This is done with the deliberate goal of minimizing the amount of cash the company has to borrow and maximizing its return from investments.