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Q. Social regulation is undertaken with the intention of improving the quality of life. The agencies most people are familiar with include: the Food & Drug Administration (FDA); the Equal Employment Opportunity Commission (EEOC); the Occupational Safety & Health Administration (OSHA); the Environmental Protection Agency (EPA); as well as the Consumer Product Safety Commission (CPSC).
Please respond to all of the following prompts:
Select one of the social regulatory agencies that you feel has affected your life. Clarify why you chose this agency as well as what the impacts to you have been. Do you consider the impact to be positive or negative? Why?
For the agency you selected, do an Internet search to find a specific example of an action this agency took regarding a specific situation or product. Write a summary of what you found "in your own words" as well as include the exact URL so we can all visit the webpage. Use quotation marks if any content is used directly from the outside source.
Opponents to regulation dislike government involvement in the markets. Should the government be involved in social regulation? Why or why not?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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