Background information: This is a sample excerpt from a business news article. Think about what the excerpt has to say about the role of regulation. What function of regulatory agencies does the FTC’s actions reveal? keeping the economy rapidly growing protecting consumers from fraud promoting competition ensuring product safety.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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