In the mixed economy of the United States, the government regulates business in various ways to ensure fair competition, consumer protection, and public safety. One example of how the government regulates business is through the Food and Drug Administration (FDA).
1. The Food and Drug Administration must approve a new drug before it can be sold to the public. This process involves rigorous testing and evaluation to ensure that the drug is safe and effective for use. By regulating the approval of new drugs, the FDA plays a crucial role in safeguarding public health and ensuring that consumers have access to medications that are safe and reliable.
Another example of government regulation in the United States is through:
2. The Department of Transportation builds a highway and approves all the work done on roadways. This illustrates how the government invests in infrastructure and oversees construction projects to ensure they meet safety standards and benefit the public. The Department of Transportation plays a key role in regulating transportation and infrastructure development to support economic growth and public welfare.
Both of these examples demonstrate how the government actively regulates business activities to promote public welfare, safety, and fairness in the mixed economy of the United States.
