Interference of government in business is common in every country since 1960. This interference is due to various reasons such as protecting domestic industries, promoting economic growth, ensuring fair competition, and regulating business practices.

Reasons for Government Interference in Business:

1. Protecting Domestic Industries: Governments often intervene in business to protect domestic industries from foreign competition. This is done to safeguard the interests of domestic producers and prevent them from being outcompeted by foreign firms.

2. Promoting Economic Growth: Governments also intervene in business to promote economic growth. They may provide subsidies, tax breaks, and other incentives to encourage investment in certain industries or regions.

3. Ensuring Fair Competition: Governments may also intervene in business to ensure fair competition. This can include enforcing antitrust laws, preventing monopolies, and regulating mergers and acquisitions.

4. Regulating Business Practices: Governments may also regulate business practices to protect consumers or the environment. This can include setting safety standards, regulating pollution, and requiring businesses to disclose information about their products.

Examples of Government Interference in Business:

1. Tariffs and Import Quotas: Governments may impose tariffs or import quotas on foreign products to protect domestic industries.

2. Subsidies and Tax Breaks: Governments may provide subsidies or tax breaks to encourage investment in certain industries or regions.

3. Antitrust Laws: Governments may enforce antitrust laws to prevent monopolies and promote fair competition.

4. Environmental Regulations: Governments may regulate business practices to protect the environment by setting safety standards, regulating pollution, and requiring businesses to disclose information about their products.

Conclusion:

In conclusion, interference of government in business is common in every country since 1960. Governments intervene in business to protect domestic industries, promote economic growth, ensure fair competition, and regulate business practices. Examples of government interference in business include tariffs and import quotas, subsidies and tax breaks, antitrust laws, and environmental regulations.

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