The principal objective of industrial regulation is to
A) increase product safety.
B) promote improvements in the quality of life.
C) protect the consuming public from the market power of natural monopolies.
D) solve problems associated with industry, such as the problems of water and air pollution.

Question

Quizplus · Accepted Answer

Industrial regulation is primarily aimed at protecting the consumers from the market power of natural monopolies. These monopolies have the ability to unfairly control the prices and availability of essential goods and services. The goal of industrial regulation is to promote competition and prevent market abuses by setting rules and standards for these industries. While some aspects of product safety and pollution may be addressed through industrial regulation, they are not the primary objectives. The objective of promoting improvements in the quality of life is also a valid goal, but it is not necessarily the primary focus of industrial regulation.

The Principal Objective of Industrial Regulation Is to