Question

Think about the videos you have watched. Why is there a need for government regulation, and what limits need to be placed on these regulations? Give your answer in the form of a short paragraph

Answer 1

Government regulations are necessary because they protect public safety and market fairness. For example, food safety regulations help protect consumers from pathogens that could cause widespread illness. By creating regulations, the government can make food-borne illness less likely. However, even though these regulations are necessary, they must still meet constitutional requirements. Producers and consumers have the right to own and use property, among other constitutional rights.

Answer 2

Answer:

Government regulation is the system of government which legally regulates the activities in the business of a certain country, community or the Universe at large.

It has a legal image and various provisions from the system of law or courts to settle disputes and punish criminals both Individuals and organizational.

Government regulations in the field of business are designed to maintain competition and protect free trade.