What are duties of OSHA quizlet?
Occupational Safety and Health Administration. It was created in 1970 to protect the rights and safety of the workers. Its responsibilities are to encourage employees and employers to reduce workplace hazards, improve existing safety, and monitor job related injuries and illnesses.
Which statement best explains how regulations on prices affect business practices?
Which statement explains how regulations on prices affect business practices? Regulations keep prices fair and prevent businesses from establishing monopolies.
What makes enforcing safety standards a challenge for the Food and medicine Administration?
What makes enforcing safety standards a challenge for the Food and medicine Administration? Many foods are imported from other countries, and the FDA must ensure those foods meet the same standards as US goods. the FDIC.
In which situation would government regulation most likely be necessary quizlet?
Government regulations are necessary because they protect public safety and market fairness. For example, food safety regulations help protect consumers from pathogens that could cause widespread illness. By creating regulations, the government can make food-borne illness less likely.
What regulatory agency makes sure banks follow federal laws?
Introduction. The Fed has supervisory and regulatory authority over many banking institutions. In this role the Fed 1) promotes the safety and soundness of the banking system; 2) fosters stability in financial markets; and 3) ensures compliance with laws and regulations under its jurisdiction.
What are government rules and regulations?
Regulations. Government regulations are effectively rules that define the bounds of legal behavior. Most regulations are expressed in a natural language (e.g., English), a form that requires some interpretation.
Which are results of regulation in a mixed economy Check all that apply?
The correct answers are (a): compliance with laws, (b): advantages for producers, and (d): advantages for government. The mixed market economy is characterized as an economy where there is government intervention in a capitalist market.
Why was the Food Safety Modernization Act passed check all that apply quizlet?
Check all that apply. Why was the Food Safety Modernization Act passed? … Government regulations are necessary because they protect public safety and market fairness. For example, food safety regulations help protect consumers from pathogens that could cause widespread illness.
What are the main purposes of regulatory?
The primary regulatory purpose is defined as the achievement of quality control of a subject system, its process or its product. Quality control via regulation is achieved through one or a combination of approaches: (1) accountability, (2) organizational development, (3) protectionism.
What are the primary advantages of forming a corporation select all that apply quizlet?
The main advantages of a corporation are having greater access to resources, professional managers, limited liability, and unlimited life.
Which explains why government regulation necessary in a mixed market economy?
Which explains why government regulation is necessary in a mixed-market economy? … Government regulation protects property rights, safety, and profits. Government regulation protects constitutional rights, profits, and fairness.
Is Adam Smith the father of economics?
Adam Smith was an 18th-century Scottish philosopher. He is considered the father of modern economics. … Smith’s ideas–the importance of free markets, assembly-line production methods, and gross domestic product (GDP)–formed the basis for theories of classical economics.
Which are advantages of a corporation check all that apply?
Advantages of a corporation include personal liability protection, business security and continuity, and easier access to capital. Disadvantages of a corporation include it being time-consuming and subject to double taxation, as well as having rigid formalities and protocols to follow.
What are the primary advantages to choosing a sole proprietorships check all that apply?
The primary advantages of sole proprietors are: Ease of starting and ending the business, being your own boss, pride of ownership. leaving a legacy, retention of company profits, no special taxes.
Which are advantages of a partnership check all that apply?
The advantages of a partnership are greater management skills, greater posibility of keeping competent employee, greater sources of financing, ease of formation, and freedom to manage.
What are the primary advantages to choosing a sole proprietorship select all that apply it can be inexpensive and easy to set up?
Advantages of a sole proprietorship include the following:
- Easy and inexpensive to form; few government regulations.
- Complete control over your business.
- Get all the profits earned by the business.
- Don’t have to pay any special income taxes.
What are the 3 main types of business?
There are three common types of businesses—sole proprietorship, partnership, and corporation—and each comes with its own set of advantages and disadvantages. Here’s a rundown of what you need to know about each one.