B A 342 Chapter Notes - Chapter 11: Small Business
25 Nov 2018
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Document Summary
Economic regulation: regulation of business behavior through the controlling and influencing economic or market variable such as prices (max and min), entry to and exit from markets, and types of services offered. Social regulation: focuses on business"s impacts on people in their roles as employees, consumers, and citizens. Creation of the occupational safety and health administration. Businesses treat employees more fairly p y y. Consumers are able to purchase safer products and receive more information about them. Citizens from all lifestyles have cleaner air to breathe and cleaner water in lakes and rivers. Costs resulting from regulation also are difficult to measure. Direct costs: costs that can be attributed to the creation of a good or service. Most visible when looking at the number of new agencies created, aggregate expenditures, and growth patterns of the budget of federal agencies responsible for regulation.
