Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Let's consider the issue of promoting competition---sounds like a core US value. Competition is good for the consumer and good for business, but is it

Let's consider the issue of promoting competition---sounds like a core US value. Competition is good for the consumer and good for business, but is it really? Wal-Mart has done wonders in providing low cost goods to help consumers manage tight budgets but is the mega-retailer really good for the economy? Some would argue that when Wal-Mart comes into a small town, locally owned businesses dry up and are forced to close and that most of the money spent by consumers at Wal-Mart does not stay in the local community. Maybe Wal-Mart has gotten too big for government (federal or local) to control. The same could be said about the oil and gasoline industry---prices seem to fluctuate without any relationship to the needs of the consumers, who many times do not have an alternative. My question is this, where should the line be drawn between promoting competition and regulation of business? Should the federal government be more active in the regulation of such giants as Wal-Mart or the oil and gas industry or will open competition prove to be in the best interests of the consumer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

10th Canadian edition Volume 1

978-0134213101, 134213106, 133855376, 978-0133855371

Students also viewed these Law questions