Asked by Jeanna Ramig on Apr 25, 2024
Laws and regulations change over time; however, in the United States the thrust of most business legislation can be summed up as
A) any practice is permitted.
B) any practice is permitted that does not substantially reduce competition and harm consumers or society.
C) any practice is permitted that does not substantially harm consumers or society, but this applies only within the United States.
D) any practice is permitted that does not harm the environment.
E) any practice is permitted that does not break the law.
Business Legislation
Laws that govern how businesses can operate, including regulations on company formation, taxation, and employment.
Substantially Reduce Competition
Actions or situations that significantly decrease the level of competition within a market or industry.
- Identify the distinctions among various law categories (civil, criminal, competitive, administrative, regulatory) and understand their effects on business operations.
Learning Objectives
- Identify the distinctions among various law categories (civil, criminal, competitive, administrative, regulatory) and understand their effects on business operations.
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