Question

1. Which of the following is businesses' primary means of influencing government? a. advertising b. deregulation...

1. Which of the following is businesses' primary means of influencing government?

a. advertising
b. deregulation
c. lobbying
d. taxation

2. Which of the following statements is true of deregulation?

a. Deregulation has helped in reducing competition in most industries.
b. Deregulation is the opposite of economic reform.
c. Deregulation is used to remove certain industries from old-line regulations.
d. The trend toward deregulation began in the 1950s.

3. Why have some businesses pushed for greater governmental regulations?

a. Certain regulations are extensive in scope.
b. Certain regulations just require paperwork and not much else.
c. Certain regulations control excessive competition.
d. Regulations increase governmental control of business.

4. Which of the following observations is true?

a. Businesses follow a collectivistic ethic.
b. Ethical systems are different for governments and businesses.
c. Governments follow an individualistic ethic.
d. The relationship between business and government is not adversarial in nature.
Business   Economics   
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Homework Answers

Answer #1

1. Lobbying is the businesses' primary means of influencing government

Ans - C

2. Deregulation means removing a regulation that interferes with firms' ability to compete, especially overseas. Deregulation helped the development of an international capital market. Thus deregulation has helped in reducing competition in most industries.

Ans - A

3. Certain regulations control excessive competition.

Ans - C

4. Ethical systems are different for governments and businesses.

Businesses follow individualistic ethic while governments follow collective ethic.

Ans - B

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