Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Re write this: Government laws or regulations can significantly influence the consumer relationship. By manipulating elements like interest rates or taxes, governments can alter consumer

Re write this: Government laws or regulations can significantly influence the consumer relationship. By manipulating elements like interest rates or taxes, governments can alter consumer spending habits. Such governmental interventions can profoundly affect a consumer's propensity to buy a product or service from a company. Take the automobile industry as an example. Governmental emission standards regulations can greatly affect this sector. If the government enforces more stringent emission standards, car manufacturers will need to allocate more resources to research and development to create vehicles that comply with these standards. This could potentially raise the price of cars, which may subsequently impact consumer buying choices

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

Research Methods For Business Students

Authors: Mark Saunders, Philip Lewis, Adrian Thornhill

8th Edition

1292208783, 978-1292208787

Students also viewed these Economics questions