Industries like to be in control of their own destiny and as a result prefer self-regulation to laws imposed by governments. Self-regulation is often ________.Question 2Select one:a.based on external codes of conductb.enforced by the courtsc.in conflict with common lawd.less costly for firms than government regulation

Taxes and government regulations are part of the ________________ environment of business.Select one:a. economic and legalb. competitivec. technologicald. social

Which of these is NOT a macroenvironmental factor that directly influences a firm?Multiple choice question.TechnologyLaws and RegulationsDemographicsCompetitionCulture

Governments are most likely to regulate market conditions in which situation?A.A small business sells its products to a large business for processing.B.A corporation wants to invest more money into research and development.C.A company with a monopoly in an industry begins raising prices.D.A large number of small businesses enter a pure competition market.

When externalities exist, the government can enact laws to limit these external costs of production. This is best described as an example of the governmentMultiple choice question.protecting labor.protecting the environment.providing a legal framework.

Describe the need for inculcating the value of ‘self-regulation’ over ‘regulation’ in the context of ethical governance. Supplement your answer with illustrations.