The government may impose industrial safety regulations and occupational licensing requirements in which of the following economic systems?

Question

Quizplus · Accepted Answer

In a mixed-market economy, the government plays a role in regulating industries to promote safety and protect consumers. This can include imposing industrial safety regulations and requiring occupational licensing for certain professions to ensure that individuals have the necessary skills and qualifications to practice safely. In a laissez-faire economy, the government would not intervene in the operations of businesses, and in pure capitalism, regulation and licensing requirements may be seen as a hindrance to the free market. Macroeconomics refers to the study of the overall economy and does not directly relate to the imposition of industrial safety regulations or licensing requirements.

The Government May Impose Industrial Safety Regulations and Occupational Licensing