Question

Social regulation : A. is more concerned with the overall standard of living of society rather than with details of production processes B. has declined in importance in recent years. C. was developed as a substitute for industrial regulation. D. applies more broadly and affects more people than industrial regulation.

Answer 1

Answer:

D. Applies more broadly and affects more people than industrial regulation.

Explanation:

It is explained that these regulations may prescribe or proscribe conduct, calibrate incentives, or change preferences ("preferences shaping" regulation).

Normally in the social, political, psychological, and economic domains can take many forms: legal restrictions promulgated by a government authority, contractual obligations. State mandated regulation is explained as government intervention in the private market in an attempt to implement policy and produce outcomes which might not otherwise occur, ranging from consumer protection to faster growth or technological advancement.