What happened to caveat emptor

Assignment Help Business Economics
Reference no: EM13977209

An argument can be made that the Government could improve consumer welfare by requiring companies to provide accurate information to consumers about their products. We already see this intervention by the government in the labeling requirements on food, warnings on packages of cigarettes, and prohibition of false advertising but do warning labels really deter consumers from eating or engaging in “unhealthy” behaviors? Should companies like McDonald’s be “required” to label coffee with the caution that the content is hot?

Please respond to all of the following prompts:

• Should the Government increase, decrease or remain the same in its level of intervention when it comes to mandating that companies provide product information to consumers? What happened to “caveat emptor” (buyer beware)?

• Can you think of examples where the government does not intervene enough when it comes to consumer safety and product information? Examples where too much intervention is the case? Explain your answers.

• How can consumers become better educated about the products they are considering for purchase? To what extent do you personally go to acquire the best information available?

Reference no: EM13977209

Questions Cloud

What is the change in kinetic energy : After contact with the racket, the tennis ball travels South, again with kinetic energy equal to 5 J. During this process, What is the change in kinetic energy?
Maintaining safety and soundness of the financial system : The role of Bank Regulation has become increasingly complicated in maintaining “Safety and Soundness” of the Financial System. What is Micro-Prudential Supervision of banking institutions? The 2000s witness a dramatic increase in Financial Engineerin..
Determine the range x : At the end of the hill the ball becomes airborne, leaving at an angle of 35o with respect to the ground. Treat the ball as a thin-walled spherical shell, and determine the range x.
Determine the spacing between atoms : The diffraction of radiation can be used to determine the spacing between atoms. In practice, the wavelength of the radiation used should be restricted to a value which is of the same order of magnitude as the interatomic distances to be determined. ..
What happened to caveat emptor : An argument can be made that the Government could improve consumer welfare by requiring companies to provide accurate information to consumers about their products. Should the Government increase, decrease or remain the same in its level of intervent..
Find the force that acted on the ball : A tennis ball with a mass of 175.0 grams moves with a speed of 15.75 m/s towards all. the ball rebounds with a speed of 12.99 m/s after being in contact with the wall 71.99 ms, find the force that acted on the ball.
Why do they participate in threatening the us : What is the current goal/motivation of the threat entity? What is it trying to achieve? Has it evolved since its formation
Calculate the carrier concentrations : Silicon has doped with 10^17 phosphorus atom cm^-3 at room temperature. a) Calculate the carrier concentrations.
What is the average force on the wall during the collision : The ball's incident speed is 40 m/s and the ball's return speed is 35 m/s. If the time over which the ball is in contact with the wall is 6 ms, what is the average force on the wall (in N) during the collision?

Reviews

Write a Review

 

Business Economics Questions & Answers

  Our legal system uses combination of government regulation

Our legal system uses a combination of government regulation and industry self-regulatin as a means of promoting the quality of care (QOC). Discuss the differences and provide your opinion on what you believe is the best method of promoting QOC.

  System of equations for a product

Suppose the following system of equations for a product: Solve for the socially efficient equilibrium. When P=30, what will be happening to the market? Explain.

  Q suppose there are two consumers a and b the utility

q. suppose there are two consumers a and b. the utility functions of each consumer are given byuaxy xyubx y 2x ythe

  What is the observed per capita GDP

As an economist working at the International Monetary Fund, you are given the following data for South Africa: predicted per capita GDP, relative to the United States, as given by y=k^1/3, is 0.55, and total factor productivity is 0.33. What is the o..

  Encouraging foreign carmakers

Do you think it is a good idea for the Russian government to take the measure of encouraging foreign carmakers to build factories in Russia.

  Influence peoples decision-making regarding fuel efficiency

How might you use information about design concepts to help you make future decisions? For example, when reading studies reported in newspapers or magazines how will the nature of the study influence your decisions to either take action or change you..

  Previously monopolistic on a global scale

Dumping and predatory pricing involve selling at very low prices, even below cost, for the purpose of driving competitors out of business.  If a firm were to succeed it would be a monopoly and could raise prices accordingly. Why would a predatory mon..

  Describe the major components of a business model

Describe the major components of a business model. Which component do you identify as the foundation component? Why?

  Brands of fertilizers during the next growing season

A gardener can use one of the three brands of fertilizers during the next growing season. The following decision table shows the expected gross income per acre for each fertilizer brand and weather condition for the growing season. The chance of a dr..

  Savings bond with a coupon rate

A 10 year $20,000 savings bond with a coupon rate of 8% payable quarterly has what present worth if the purchaser anticipates a 10% quarterly rate of return?

  Events usually lead to capital deepening

Would the following events usually lead to capital deepening? Why or why not? A weak economy in which businesses become reluctant to make long-term investments in physical capital.

  Describe how changes in technology contributed

Describe how changes in technology contributed to the globalization of markets - Explain how the Internet affects international business activity and the globalization of the world economy.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd