What is regulation in an economic system? Regulation is the placing of
limits or restrictions on business activity by the government
. In the United States, the government creates laws and regulations that ______business activities to prevent wrongdoing.
What is regulation in an economic system regulation is the placing of limits or restrictions?
What is regulation in an economic system? Regulation is the placing of
limits or restrictions on business activity by the government
. In the United States, the government creates laws and regulations that ______business activities to prevent wrongdoing.
What is regulation in a economic system?
“Economic regulation” refers
to rules that limit who can enter a business (entry controls) and what prices they may charge (price controls)
. For example, taxi drivers and many professionals (lawyers, accountants, beauticians, financial advisers, etc.)
Which is the best example of regulation in an economic system?
The correct option is: “
A state agency has been created to monitor the production and distribution of sports drinks
.”
What is an example of regulation in the automobile industry?
Among the given options, the example of regulation in the automobile industry is
the creation of fuel-efficiency standards for cars
. This is a regulation as it is a stipulation required by the government to optimize the usage of gasoline and protect the environment from pollution.
Is it true that in a republic elected officials create laws to regulate the economy?
The given statement is
true
.
How can the government reduce the wealth gap in a mixed market economy?
How can the government reduce the wealth gap in a mixed market economy?
The government can control income levels by placing limits on how much citizens can earn
. … The government can tax members of the wealthy class at a lower rate to address differences in income.
Is regulation good for the economy?
Regulations are
indispensable to the proper function
of economies and societies. They create the “rules of the game” for citizens, business, government and civil society. They underpin markets, protect the rights and safety of citizens and ensure the delivery of public goods and services.
What are examples of regulation?
Common examples of regulation include
limits on environmental pollution , laws against child labor or other employment regulations
, minimum wages laws, regulations requiring truthful labelling of the ingredients in food and drugs, and food and drug safety regulations establishing minimum standards of testing and …
| Social Regulation Economic Regulation | Federal Aviation Administration (FAA) Financial | National Highway and Traffic Safety Administration (NHTSA) Comptroller of the Currency (OCC) | Occupational Safety and Health Administration (OSHA) Federal Reserve System (Fed) |
|---|
What type of economy is being described a traditional economy?
Also known as a subsistence economy, a traditional economy is defined
by bartering and trading
. A little surplus is produced and if any excess goods are made, they are typically given to a ruling authority or landowner. A pure traditional economy has had no changes in how it operates (there are few of these today).
Which statement best describes a pure market economy?
The decisions made by producers and consumers drive all economic choices
best describes pure market economy.
What is one way that technology can improve the distribution of goods quizlet?
What is one way that technology can improve the distribution of goods?
Workers can take Internet classes to gain new skills
. Automation can create goods more cheaply and easily. … Container ships can transport a number of goods at once.
Who regulates the auto industry?
The National Highway Traffic Safety Administration and EPA
are the primary agencies that regulate the automotive industry.
How does the government affect the car industry?
In more recent years, government regulations have sought to shape what level of fuel efficiency automobiles must achieve. These regulations tend to
boost production costs and limit the way autos are sold and advertised
.
How does the US government currently regulate automobiles and drivers?
The regulation of automobiles is directed by
the federal government through NHTSA
in setting safety and manufacturing standards applicable to all commercial vehicles, with the remainder left to the police power of the states.
