An Example of the Opportunity Costs Involved with Social Regulation

question 44

Multiple Choice

An example of the opportunity costs involved with social regulation would be:

• A)the monetary costs of hiring administrative assistants to fill out OSHA safety reports.
• B)the environmental costs of pollution control required under the Clean Air Act.
• C)the monetary costs of laboratory trials required to try out a new drug.
• D)the lives that are lost because new drugs are not introduced quickly enough.
• E)the monetary cost of manufacturing a life saving drug.

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Definitions:

Information Technologies

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Loose Collection

Loose Collection refers to a group of items or elements that are gathered together without a strict organization or structure.

Upper-level Executives

Senior managers within a business organization, typically responsible for decision-making and strategic planning.

Main Market

The principal or leading market place where securities, commodities, or goods are traded.