American economic and legislative thinking is based on the idea that
A) encouraging competition harms public interest.
B) competition among many small firms helps the economy.
C) attempts by business to limit competition aids large firms during recessions.
D) the economic environment provides a base for the technological environment.
E) laws should protect companies and not consumers.

Question

Quizplus · Accepted Answer

American economic and legislative thinking is based on the idea that competition among many small firms helps the economy. This is because it promotes innovation, efficiency, and lower prices. The government encourages competition through antitrust laws and regulations to prevent the formation of monopolies and promote fair market competition.

American Economic and Legislative Thinking Is Based on the Idea