Most federal laws regulating business are based on the Commerce Clause of the U.S. Constitution. True False Which of the following is true of government regulation of business? Government regulations are used to improve quality of life for only certain sections of society. Government regulations only affect the operation of certain businesses. Government regulations do not affect product prices. Government regulations are used to eliminate abuse in business. Which of the following statements is true of the United Nations Convention on Contracts for the International Sale of Goods (CISG)? The convention also applies to contracts where the buyer and seller have places of business in different states of the same country, The convention covers contracts between two parties even if their operations are in countries that have not adopted the convention. The convention extensively covers personal consumer transactions in addition to business-tobusiness situations. The convention extensively covers personal consumer transactions in addition to business-tobusiness situations