A. Discuss the government regulation of food, drugs, and cosmetics, what are the goals and objectives of government regulations over these products? What is the effect of these regulations on the regulated business and how do government regulations impact the costs of these products? Is the regulation of these products, detrimental to the concept of the free market or are these protections needed?
B. If we eliminated all regulations, like some politicians campaign on, do we believe that businesses can always be trusted to do the right thing? Explain.