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

question 14

Multiple Choice

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

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

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Definitions:

Aggregate Demand Curve

Curve showing planned purchase rates for all goods and services in the economy at various price levels.

Price Level

An index that measures the average price of goods and services in an economy at a specific time.

Aggregate Supply Curve

A graphical representation that shows the total quantity of goods and services that producers in an economy are willing to produce and sell at different price levels.

Horizontal Segment

In graphical analyses, a part of a line or curve that runs parallel to the horizontal axis, indicating constant value or absence of change.