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:

Self-concept

An individual's perception or image of themselves, built from beliefs one holds about oneself and the responses of others.

Introspection

The examination or observation of one's own mental and emotional processes, often used as a method of personal reflection.

Stockings

Close-fitting, elastic garments covering the foot and leg, typically made from nylon or silk.

Nisbett And Wilson

Researchers known for their work on human judgment, reasoning, and the limitations of self-awareness in cognitive processes.