3) What are the two purposes of the laws governing American business? Describe how at least...

3) What are the two purposes of the laws governing American business? Describe how at least two regulatory agencies fulfill these purposes.

(short and concise plz)

Expert Solution

3)

The following are two important functions of the laws that govern business in the United States.

Regulation of advertisement

Regulation of advertisement is one of the most important functions of business laws in the United States. Acts including the Fair Packaging and Labeling Act of 1966 is serving this purpose. The Federal Trade Commission or FTC is a federal agency that regulates unfair and deceptive practices in the field of advertising. The agency is fulfilling its purpose through continuous research, conducting hearing sessions, workshops, and conferences, educational programs, etc.

Environmental Regulation

Environmental regulation is an another purpose of laws governing businesses in the United States. Environmental Protection Agency or EPA is a federal agency that governs the regulations related to environmental protection. They also provide compliance assistance in different ways. They conduct regular inspections on business premises and also provides educational materials to business firms for facilitating this.

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