Reference no: EM131581317

Question: Various U.S. government agencies, among them the Food and Drug Administration (FDA) and the Environmental Protection Agency (EPA), include "consumer protection" as one of their goals. The FDA, for example, decides whether drugs that pharmaceutical companies want to sell are safe and effective, and the EPA decides whether particular pesticides are safe for consumer use. Some people believe that such government oversight unnecessarily interferes with companies' freedom to sell their goods and with consumers' freedom to buy what they want. Indicate how you think each of the following individuals would evaluate consumer protection policies, in general.

a. Someone who believes strongly in consumer sovereignty

b. Someone who believes strongly that consumers make rational choices

c. Someone who believes that consumers sometimes have less than perfect information about what they are buying

d. One who believes that consumers can be overly influenced by marketing campaigns