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:

Comport

To conduct oneself or behave in a particular manner.

Substantial Performance

A legal concept indicating that a party has fulfilled enough of its contractual obligations to warrant payment, despite minor deviations from the initially agreed terms.

Rendered Performance

The act of providing or completing a service as per the terms of an agreement or contract.

Complete Performance

refers to the fulfillment of all terms and conditions as outlined in a contract or agreement, without deviation or shortfall.