1-Should the government increase, decrease or remain the same in its level of in
ID: 2505699 • Letter: 1
Question
1-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 emtor" (buyer beware)?
2- 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.
3- 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?
Explanation / Answer
1. This will depend on the economy rate of the country. If the government will increase its level of intervention the demand from a certain product should be high. [ [ Then things should go the way how supply and demand in a certain country should be affected by the interventions .Many of us learned at an early age the expression caveat emptor, or let the buyer beware. The phrase conjured up an image of a roiling, rollicking market that consumers best entered equipped for battle and prepared for disappointment
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