9
QuizMultiple Choice

Regulatory Policy — Quiz

Question 9 • Economics

Which statement about business regulations is accurate?

Answer
A
High-profit businesses focus on meeting state regulations annually.
B
All businesses are subject to local, state, and federal regulations.
C
Small businesses are only obligated to follow local regulations.
D
Government-based businesses are required to apply federal regulations.

Explanation

Businesses may have to follow regulations at each level of government. Local rules can cover matters such as zoning, state rules may govern licensing, and federal rules can address areas such as taxes or workplace safety. Therefore, the accurate statement is that all businesses are subject to local, state, and federal regulations; the exact requirements vary by business and location.

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