Government regulation of business involves recognition of the fact that

Question

Quizplus · Accepted Answer

Regulation should take into account the burden it places on businesses, as excessive regulation can hinder their ability to operate and innovate effectively. Additionally, cost-effectiveness is also an important factor to consider in regulating businesses. However, unlimited government power to regulate is not a recognized principle in most modern democracies, and the effectiveness of federal vs provincial regulation depends on the specific context and nature of the industry being regulated. Unlimited competition is also not recognized as necessary for markets to function effectively, as some industries benefit from cooperative or collaborative structures.

Government Regulation of Business Involves Recognition of the Fact That