Question

Safefen, a safety assurance and standards association in the country of Eilenst, made it mandatory for all the toy manufacturers in the country to display the recommended age limit for each toy on its cover. In the context of the specific environment, this scenario best illustrates the effect of the _____ on organizations."

Answer 1

This scenario best illustrates the effect of the industry regulation component of on organizations by Safefen.

Explanation:

The element of industry regulation consists of laws and guidelines regulating the business practices and procedures of individual companies, firms, and professions.

Government regulation of the industry is control of individual or firm actions by local, federal or state governments via price-setting processes or control of the quantity, quality, and safety of products and services produced.  

Displaying the recommended age limit for each toy on its cover is one of Safefen's safety measures of toy industry regulations.