Paragraph 1If there is no regulations for business, society and business will in a mess. Corporatesw

Paragraph 1If there is no regulations for business, society and business will in a mess. Corporateswill compete in an unfair environment. Every company can get success through bribinggovernment officers. Also, some companies may launder the money. In order to prevent suchsituations, business needs regulations. There are many complex regulations in United Statestodays. It represents there are many ways to get success without fair competition. Therefore,under these rules, companies can grow up healthily.Paragraph 2Externalities happens when one person affect another person’s well-being. Also the relevantcosts and benefits will not reflect in the market price. There are two externalities. PositiveExternality and Negative externality. Public Good is a product that one person can consumewithout decreasing its availability to another individual and from which no one is excluded.Market failure includes public goods and externalities.

 

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