Business Legislation Has Been Created for Three Basic Reasons: to Protect

question 16

Multiple Choice

Business legislation has been created for three basic reasons: to protect companies from each other,to protect consumers,and to _.

• A)promote social responsibility
• B)protect the interests of society
• C)regulate prices
• D)increase world trade
• E)regulate monopolies

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Definitions:

Price

The amount of money exchanged for a good or service, influenced by factors like supply and demand, production costs, and market competition.

Tax Revenue

The income that is collected by the government through various forms of taxes from individuals and businesses.

Government

An organization, often a group of people, with the authority to govern a country or state.

Tax

Compulsory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.