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REGULATION: Government rules or laws that control the activities of businesses and consumers. The motivation for regulation is that businesses are inclined to do things that are harmful to the public--actions which need to be prevented or otherwise controlled. Regulation is essentially an extension of government's authority to protect one member of society from another. It tends to take one of two forms--(1) industry regulation that's intended to prevent firms from gaining and abusing excessive market control and (2) social regulation that seeks to protect consumers for problems caused by pollution, unsafe products, and the lack of information (market failure).
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who works best when the work is most challenging. Family and friends never, never, never try to convince you of an alternative point of view, political or otherwise. Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for neighborhood pets, especially belligerent parrots. You should consider shopping at stores or businesses beginning with the letter S, but do not buy any products with a serial number or product code containing the number 159686. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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DEMAND CURVE A graphical representation of the relation between the demand price and quantity demanded, holding all ceteris paribus demand determinants constant. A demand curve graphically illustrates the law of demand, the inverse relation between demand price and quantity demanded for a particular good. It is one half of the standard market model; a supply curve is the other half.
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Scraping Up The POLLUTIONOne of Shady Valley's featured factories is Mona Mallard's Duct Tape Industries. It's the world's leading producer of duct tape -- that shiny, seemingly omnipresent, cloth-like tape that's used for everything EXCEPT ventilation ducts. Mona Mallard's Duct Tape Industries also employs thousands of voting, taxpaying Shady Valley residents. The amount of campaign money, legal and otherwise, contributed by Mona Mallard herself to Shady Valley politicians is, well, incalculable. All of this means that our little pedestrian exploration through the backlot dumping ground of Mona Mallard's Duct Tape Industries main production plant puts us on very, VERY sensitive turf. The reason, of course, is that the duct tape plant has been discarding sticky, toxic, gooey junk onto the ground. This is a potentially hazardous situation, not only because this sticky, toxic, gooey junk appears to be leaking into the Shady Valley River, but because a Mona Mallard's Duct Tape Industries security guard is headed in our direction. Rather than confront this guard, I suggest we spend our time exploring the problems of pollution. RUN!
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"The world is not dangerous because of those who do harm but because of those who look at it without doing anything. " -- Albert Einstein, physicist
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AACCLA
Association of American Chambers of Commerce in Latin America
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