can you imagine what it would be like without proper rules of trade and laws on consumer welfare? how do you think would this impact the economy?
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can you imagine what it would be like without proper rules of trade and laws on consumer welfare? how do you think would this impact the economy?
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Answer:
There can be exploitation if rules and regulations aren't implemented. Many products can be overpriced and hoarded. It can affect the economy through the tax. With no rules or laws within the market, many businesses can evade taxes and it will imply a huge loss to the economy.
Explanation:
This is just my speculations. Please also refer based on what you have learned.