Which of the Statements Best Describes the Difference Between Economic

question 217

Multiple Choice

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

• A) There are no significant differences between economic and social regulation, social regulation is a more modern way of regulating an economy.
• B) Economic regulation focuses on output and price; social regulation focuses on improving the quality of life.
• C) Social regulation focuses on output and price; economic regulation focuses on quality of life issues.
• D) Social regulation targets industries like transportation, while economic regulation targets utilities.

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Definitions:

Social Security System

A government program that provides monetary assistance to people with an inadequate or no income.

Retirement Age

The specific age at which a person becomes eligible to withdraw from active working life and can start receiving pension benefits.

Styles of Aging

Various approaches or ways individuals experience and cope with the aging process.

Successful Aging

A concept involving maintaining physical health, cognitive function, and social engagement in older adulthood.