Why Did Congress Begin to Adopt National Business Regulations

question 18

Multiple Choice

Why did Congress begin to adopt national business regulations?

• A)They wanted to increase the amount of money that the government earns from monopolies.
• B)They thought that government-sponsored monopolies were the best way to provide services to consumers in most industries.
• C)They wanted to alleviate the burdens that companies faced in adapting to the regulatory inconsistencies across states.
• D)They wanted to encourage the development of an automotive industry that would strengthen America's position in the world economy.
• E)Occasional bubbles,fostered by regulation,are actually a healthy part of a market economy.

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Definitions:

Self-interest

The pursuit of personal advantages and well-being, often guiding individual economic decisions.

Division of Labor

A method that breaks down the production of a product into a series of specific tasks, each performed by a different worker.

Specialization

The concentration of the productive efforts of individuals or organizations on a limited number of activities, leading to increased efficiency and productivity.

Mass Production

A manufacturing technique that produces large quantities of goods efficiently by using assembly lines or automation technology.