What role does government regulation play in the business environment?

What role does government regulation play in the business environment?

Step 1: Understand that government regulation means rules set by the government for businesses.
Step 2: Recognize that these rules can include safety standards, environmental laws, and labor laws.
Step 3: Realize that businesses must follow these rules to operate legally.
Step 4: Know that regulations can affect how businesses make products, treat employees, and interact with customers.
Step 5: Acknowledge that regulations can help protect consumers and the environment, but they can also increase costs for businesses.

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