Government Intervention in the Market Is Helpful When

question 271

Multiple Choice

Government intervention in the market is helpful when

• A) consumers are free to buy from many different firms.
• B) consumers are forced to buy from just one firm.
• C) business firms face increasing competition from new entrants into the market.
• D) business firms always use the cleanest technologies available to mitigate pollution.

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Definitions:

De Facto Corporation

A business that operates as a corporation without formal legal acknowledgment but is treated as such for some purposes.

Corporation's Bylaws

The written rules for conduct of a corporation, detailing the rights and obligations of the directors, officers, and shareholders.

Perpetrate A Fraud

The act of intentionally deceiving someone or a group in order to gain an unfair or illegal advantage, often financial.

Personally Liable

A legal term referring to an individual's responsibility to settle a debt or legal judgment from their personal assets.