Sunday, February 27, 2011

Social Regulations: objectives

(Question)
Which of the following statements regarding objectives of social regulations are less accurate:

  1. Social regulations may be used to ensure that consumers are protected with safe products at a fair price.
  2. Social regulations may be used to toward a goal of environmental protection.
  3. Social regulations may be used to used to promote safer working conditions.


Answer: A

The objective of social regulation is a better quality of life through safer products, a less polluted environment, and improved working conditions. Fair pricing is the objective of economic regulation.

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