20 POINTS!
Free market economies still have some government regulation, like minimum wage laws and workplace safety laws. Consider the goals of businesses and companies. Why are these regulations important?

Market economies need clear rules to function efficiently. Without a legal framework establishing and enforcing property rights and the “rules of the game,” our free enterprise system could not exist. Regulations issued by the executive branch affect every aspect of our lives. From the moment you wake up until the time you go to sleep, regulations influence what you do. Yet most people know very little about the impact of regulations or the process by which they are produced.

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Explanat ion:

The goal of a company is to turn a profit, the return received after ALL expenses have been met. Workers’ wages are one of those expenses. If minimum wage laws did not exist, then businesses may be tempted to lower wages unreasonably in order to turn a higher profit. In addition, workplace safety can sometimes be expensive. For example, buying dust masks or replacing broken machines can increase the expenses of a business. Without regulation, some businesses may be tempted to focus on increasing profits at the risk of workers’ lives.

i confess that there are several parts of this constitution which i do not at present approve, but i am not sure i shall never approve them: for having lived long, i have experienced many instances of being obliged by better information or fuller consideration, to change opinions even on important subjects, which i once thought right, but found to be otherwise. it is therefore that the older i grow, the more apt i am to doubt my own judgment, and to pay more respect to the judgment of others.