Why is government regulation necessary to protect consumers from unfair business practices?

What will be an ideal response?


Government regulation is necessary to protect consumers from unfair business practices because some firms, if left alone, would make shoddy products, invade consumer privacy, mislead consumers in their advertising, and deceive consumers through their packaging and pricing. Rules defining and regulating unfair business practices are enforced by various agencies.

Business

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I had a really poor performance evaluation last week. It really made me think that I should give work more effort than I have been. This is an example of an authentic leadership factor that is a ______.

A. catalyst for change B. moral reasoning capacity C. resiliency capacity D. balanced processing

Business

What is supply chain event management (SCEM)?

A. Enables an organization to react more quickly to resolve supply chain issues. B. Applies technology to the activities in the order life cycle from inquiry to sale. C. Helps organizations reduce their investment in inventory while improving customer satisfaction through product availability. D. Allows an organization to reduce the cost and time required during the design process of a product.

Business

On a balance sheet for a merchandiser, Merchandise Inventory is listed as a(n) ________

A) current asset B) current liability C) expense D) revenue

Business

One purpose of criminal sanctions is to deter others from committing similar crimes in the future

a. True b. False Indicate whether the statement is true or false

Business