Business Often Fails to Regulate Itself, and the Lack of Self-Regulation

question 58

Multiple Choice

Business often fails to regulate itself, and the lack of self-regulation is contrary to the public interest. To counterbalance, administrative agencies exist to:

• A) refer the problem or area to experts for solution and management.
• B) protect the public, especially from the business community.
• C) replace competition with regulation.
• D) develop detailed rules and regulations to carry out the legislative policy.
• E) provide services, having been arisen out of necessity.

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Definitions:

Cognitive Development

The process by which a person's ability to think, understand, and learn evolves over the course of their life.

Moral Orientation

An individual's or group's perspective on what is considered moral or ethical.

Social

Relating to society, its organization, or the interactions between its members.

Emotional

Pertaining to feelings or their expression, often relating to one's psychological state or well-being.