Question

If I were a policy maker in country LT, I would create a regulatory policy that allowed the grain producer to make as much in profit as possible but still protect consumer needs. The company would be required to create various smaller companies, each selling different types and quality of grain for varying prices. This would preserve the ideals of free enterprise, encourage competition within the market, and help to keep food costs down for consumers. Which ideas did you include in your response? Check all that apply.

Option 1: The type of policy that you would create
Option 2: How this policy would protect the ideals of a free-enterprise system
Option 3: The ways in which this policy would help protect the citizens of your nation

Answer 1

As a policy maker, I would create a regulatory policy requiring grain producers to form smaller companies to preserve free enterprise ideals, encourage market competition, and protect consumer interests by keeping food costs reasonable.

Step-by-step explanation:

If I were a policy maker in country LT, I would create a regulatory policy that encourages grain producers to maximize their profits while simultaneously protecting consumer needs and interests. My policy would include the requirement for these large companies to form several smaller entities, each specializing in different types and qualities of grain at varied price points. This approach achieves several goals:

• Preserves the ideals of free enterprise by maintaining an open market where multiple producers can operate competitively.
• Encourages competition within the grain market, which can lead to more innovation and efficiency among producers.
• Helps to keep food costs down for consumers, as competition tends to lower prices and improve quality over time.

By implementing such a policy, I would encompass the following ideas:

1. The type of policy I would create involves regulatory measures that balance enterprise freedom with consumer protection.
2. My policy supports the free-enterprise system by ensuring fair competition and multiple market players.
3. This policy also aims to protect the citizens by ensuring affordable access to a basic necessity like grain.