Asked by Justin Maynes on May 21, 2024
Verified
A major difference between industrial regulation and social regulation is that industrial regulation
A) covers many industries across the economy.
B) has expanded rapidly since the 1970s.
C) is targeted at the prices charged, the costs of production, and amount of profit.
D) focuses on product design, employment conditions, and the production process.
Industrial Regulation
Governmental regulation of industries to ensure competition, control prices, prevent monopolies, and protect consumers.
Social Regulation
A form of government intervention in the private sector that aims to protect public welfare, health, safety, and the environment.
Costs Of Production
The total expenses incurred by a company to manufacture a product or provide a service, including materials, labor, and overhead.
- Distinguish between industrial and social regulation and their respective focuses and outcomes.
Verified Answer
Learning Objectives
- Distinguish between industrial and social regulation and their respective focuses and outcomes.
Related questions
Government Regulation Concerning the Conditions Under Which Goods Are Produced ...
Which of the Following Is Not a True Statement About ...
The Occupational Safety and Health Administration Is Mainly Involved in ...
All of the Following Are Regulatory Commissions Dealing with Industrial ...
Social Regulation Differs from Industrial Regulation in That ...