1. Acquire knowledge of the impact of government on business activities to make informed economic decisions
5.04

2. Role of government in a market economy
Provide a Legal System to make and enforce laws and to protect private property rights
Provide Public Goods that individuals or private businesses would not provide.
Correct Market Failures such as external costs and economic slowdown (unemployment).
Maintain Competition by regulating monopolies.
Stabilize the Economy by reducing unemployment and inflation, and promoting economic growth.

3. Ways in which government regulates business
Price controls
Zoning laws
Taxation

4. Federal agencies impacting business activities
Federal Trade Commission
Food & Drug Administration
Department of Economic Security
Department of Defense