When the Government Is Heavily Involved in the Regulation of Business

question 5

Multiple Choice

When the government is heavily involved in the regulation of business activity, entrepreneurs will be encourage to spend more time and resources on

• A) research and the development of better products.
• B) keeping their production costs low.
• C) rent seeking.
• D) productive activities and less on political lobbying.

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Definitions:

Psychological Barriers

Mental or emotional obstacles that hinder communication or the progress of an individual.

Listening

The active process of receiving and understanding messages communicated by others through sounds or gestures.

Communication Technology

Tools and systems used for the transmission, reception, and processing of data and information, enabling faster and more efficient communication.

Workforce

The group of employed individuals or the labor pool in any given organization or economic sector.