With the knowledge acquired thus far how would you describe the existing relationship between...

Question

With the knowledge acquired thus far how would you describe the existing relationship between business and the law? What is the biggest advantage and disadvantage that you have seen inside and outside the classroom setting?

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***Minimum of two paragraphs with 4-5sentences each.

Anjali · Accepted Answer

Relationship between Business and Laws:
In the present, businesses are the important component in every part of life. A person’s measure of living, energy, learning and level social principles are determined by business [Law for Business, 13th Edition, 2017, by James Barnes]. The studying of business will give better understanding that in today’s period, native recessions are not a separate person anymore, but considerably needy and charming an imbalanced large-scale shape[Fundamentals of Business Law Today, 10th Edition, 2014, by Roger LeRoy Miller]. Business is a important part of life, but there should be some type of laws for it to function in a disciplined way. These laws were not only created to protect consumers, but also to conserve competition. Any business firm that do not keep to these laws will face fines, penalties and in consequences fail to run.
Government oblige different rules and regulations, and some of these rules and regulations apply to both small and big businesses. So it is important to know that the government can change the rules and regulations relating businesses from time to time, and to stay up to date with these laws. Change in law means change in way businesses work [Law for Business, 13th Edition, 2017, by James Barnes].

With the knowledge acquired thus far how would you describe the existing relationship between business and the law? What is the biggest advantage and disadvantage that you have seen inside and outside...

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