Do you believe self-regulatory practices are sufficient without governmental regulation to protect consumers? If not, what type of protection and for whom do you believe it is necessary? Explain

Question

Business

Ruby Harris

30 April, 13:09

Do you believe self-regulatory practices are sufficient without governmental regulation to protect consumers? If not, what type of protection and for whom do you believe it is necessary? Explain

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Answers (1)

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Devon Middleton · Answer 1

Self-regulatory practice is like serving Lion 50gms of meat after 10 days without any protection. It will go for a kill and Government intervention is highly required. Buying consumer goods, land and property, corporation and technology and locomotive. It is for working class, middle class, lower middle class.

Explanation:

Self-regulatory is related to one human mind taking decision. In psychology it was always proven each human behavior. Is to dominate the other human irrelevant of there kindness. Business run by single owner mostly dont pay suppliers, employees well. If government steps in policies could be balanced for all the people. Government works on decision by multiple people. It does not ... Single mind taking a decision. Consumers are cheated most of the time. Regulators body taking steps to curb the owners of business. Example Ray kroc shuck hands with real owners of MC donalds that ... He would give royalty on a yearly basis but there was no paper work. Of Government just a handshake they never got Royalty.