State regulatory agencies that promote business activities

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Reference no: EM132286386

There are benefits to having U.S. and State regulatory agencies that promote business activities. First and foremost, from a consumer's perspective, knowing that the policies, procedures, and guidelines that companies must abide by brings a sense of security when dealing with a business, thus promoting business transactions with increasing sales for businesses. For instance, when I am taking medicine or eating packaged food, I can trust that what I am eating is safe (or at least will not bring sudden death) and if there are any precautions to the food or medicine I am injecting, it will be specified on the labeling of the product. The Food and Drug Administration agency (FDA), promotes public and for domestic food and medicine as well as imported products. According to HG.org, the FDA ensures "...regulation and supervision of food safety, tobacco products, dietary supplements, medicine, medical devices, and a myriad of other products." (HG.org, 2019). If a company does not comply with the rules and regulations set forth by the FDA, they can be fined, their products can be seized, or the company can be shut down.

Do you agree? why or why not?

Can you provide an agurement to the statment made above?

Reference no: EM132286386

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