Question

In the Unites States, as in most countries, we value the benefits of a free and competitive market. This suggests an interesting concepts concerning antitrust laws and other regulations on business activities within a competitive economic market. What if antitrust laws, policies, and regulations did not exist? In your response consider the following:

What might happen to an economic marketplace if typical regulations did not exist, such as antitrust, health and safety, or unfair practices?

Provide a specific example that would be impacted by not having these protections in place.

On the other side of the question can you identify an economic marketplace that isn't regulated enough? Why? Would more regulations in this market place benefit consumers? Producers?

If necessary, complete additional research to support your ideas on this topic.

Please be sure to validate opinions and ideas with citations and references in APA format.

Answer 1

In any country if there are no regulating laws in the economy where there is competitive market than there are chances of more scams which will effect economy, there will be huge prices which will have huge effect on consumers, quality is not maintained as they are only after profits, no safety measures will be followed. On a whole the business firms will take people for granted and do as they wish.

As there are no typical regulations the companies try to cheat both public and the government by trying to kep revenue with them and trying to evade taxes.

Ex: There are so many scams we can see in the world where the business firms tried to cheat the government and people.

One such example is Enron scam, Satyam scam etc

One such example is not having these regulations in place we can see that competitive firms will try to create a fake competitions among them in the market and raise prices and make their companies profitable like the standard oil case.

In todays world mostly every country have these laws.