Which of the Following Statements Best Describes the Difference Between

question 90

Multiple Choice

Which of the following statements best describes the difference between economic regulation and social regulation?

• A)Economic regulation has little to do with price and output while social regulation explicitly deals with price and output.
• B)Social regulation is concerned with directly redistributing wealth while economic regulation is concerned with accumulation of wealth.
• C)Economic regulation is concerned with directly redistributing wealth while social regulation is concerned with accumulation of wealth.
• D)Social regulation has historically targeted industries such as railroads and airlines while economic regulation has all the industries under its purview.
• E)Economic regulation deals with price and output ,while social regulation deals with health and safety matters that apply across several industries.

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Definitions:

Health Care

The organized provision of medical services to individuals or a community.

Fee-For-Service

A payment model where services are unbundled and paid for separately, often used in healthcare.

Reimbursement

The process of paying back or compensating someone for expenses or losses incurred, often used in the context of healthcare and insurance.

Actuarial Insurance

Insurance underwritten and priced through statistical analysis of risk factors, heavily relying on mathematical and statistical methods.