Why are such market standards important to market economies

Reference no: EM133614063

Problem: The U.S. Department of Agriculture (USDA) provides vital regulations of American agricultural products, including the testing and grading of foods for safety. It also, however, provides definitions for grades or varieties of commercially sold foods. One such example is set by its National Organic Program, through which the USDA develops and enforces consistent national standards for food products marketed as organically grown. Why are such market standards important to market economies?

Reference no: EM133614063

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