Question

One of the most difficult matters to determine is where to draw the line between free enterprise and government intervention. Businesses tend to thrive on less regulation, but unregulated businesses also tend to cause harm to customers, investors, the environment, etc. Think of a business that is regulated and try to determine why types of regulations affect the business. Then, make a determination if the regulations are too much, too little, or just right. Be sure to make your discussion 250 words or more.  

Answer 1

answer-

Automobile manufacturing business is the business which involves manufacturing of automobiles like cars.This business is regulated by government agencies and laws like Federal trade commission FTC, Employment and labor regulations like FLSA,Environmental regulation like EPA and safety and health regulations by OSHA.

Federal trade commission is an independent US government agency which regulate all business in the US in order to implement anti trust laws so that it can remove unhealthy competition and protect consumers from illegal activities of business. for example- Tesla is very famous company which has faced Investigation by FTC due to its deceptive and misleading advertising about its safety regarding its autopiolt system in its model 3 car. Group of consumers filled and asked FTC to investigate the issue.

Employment and Labor law regulations by FLSA regulate these businesses so that workers in manufacturing facilities of Tesla, GE and other automobile manufacturing firms in the US can be protected from unfair practices like poor wages, unsafe working conditions. Workers under FLSA can do collective bargain. Title vii of civil rights acct of 1964 regulate these businesses to avoid discriminatory activities in employment based on age, gender, race,religion etc.If these businesses violate these laws then they face legal fines in thousands of dollars, ruin thier business image and lead to even imprisonment.

EPA environment protection agency regulate these businesses to set standards that they need to comply while making and selling thier vehicles. Volkswagen company scandal is one of the great example how EPA investigate the issue and find that Volkswage was cheating on emission test which leads to billion of dollars fine to the company and decline in its market share.

OSHA law regulate these business to make sure workers/employees are safe and not involves in workplace accidents and injuries due to negligence and violation of OSHA standards by automobile firms.

I believe regulations are just right because regulations helps business to be in control and also good for consumers and other competitors. There are big companies like Tesla, GE etc with strong network, resources if not put regulations then they could try to have monopoly and mislead consumers, involve in unfair practices to labor and employees. so i think regulations are just right.