16. Explain what the supremacy clause of the U.S. Constitution stipulates in terms of federal and state laws and give a business example of the application of this clause. 17. Discuss the various regulatory shortcomings that incite companies in an industry to request regulatory reforms, and give a specific business example of this process. 18. What are the recommendations for regulatory reform? 19. Explain what antitrust means. Identify and explain at least 2 antitrust laws. 20. What is a Multinational Corporation (MNC)? Discuss the various stages of development that MNCs typically follow as they grow. 21. Explain what is meant by a direct foreign investment and give a business example of this concept.

16. Explain what the supremacy clause of the U.S. Constitution stipulates in terms of federal and state laws and give a business example of the application of this clause. 17. Discuss the various regulatory shortcomings that incite companies in an industry to request regulatory reforms, and give a specific business example of this process. 18. What are the recommendations for regulatory reform? 19. Explain what antitrust means. Identify and explain at least 2 antitrust laws. 20. What is a Multinational Corporation (MNC)? Discuss the various stages of development that MNCs typically follow as they grow. 21. Explain what is meant by a direct foreign investment and give a business example of this concept.