A. I remember this one bc I answered C and got it wrong. I thought of all of the health codes/ inspections/ liqueur licenses… and other social regulations that effect the industry, but I guess thats reading into it too much.
So food does not need to be safe I guess. I will pick C regardless what Schweser says. All industries are subject to social regulation.
food needs to be safe but that is not regulation in the true sense. that is consumer protection applicable to all industries
usif, so what’s the correct answer.
I would say C but apparently thats wrong.
sleepybird Wrote: ------------------------------------------------------- > usif, so what’s the correct answer. I asked the same thing the other day. He doesn’t remember.
Unbelieveable
The answer was A. I remember it from Q-bank. As for the explanation…I can’t recall it.
ans is A for sure In the United States, the restaurant industry is quite competitive, with a large number of competitors each with a sizeable amount of market share. This industry is best described as: A) an inherently competitive industry, which currently does not warrant heavy government regulation. -YES B) a natural monopoly, with governmental regulation necessary to ensure the quality of production. - it’s not a natural monopoly C) a competitive industry that is subject to social regulation because of the impact of its production on society. -social regulation refers to something different than consumer protection D) a deregulated industry, which does not require heavy government regulation because of its low barriers to entry and exit. it was not deregulated