MyLab Economics with Pearson eText -- Access Card -- for Economics Today: The Micro View
MyLab Economics with Pearson eText -- Access Card -- for Economics Today: The Micro View
19th Edition
ISBN: 9780134480336
Author: Roger LeRoy Miller
Publisher: PEARSON
Question
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Chapter 27, Problem 6P
To determine

Whether the controls on imports of genetically modified products into the EU member nations are social regulation or economic regulation.

Concept Introduction:

Social Regulation: These are rules that are targeted towards restricting those behaviors that directly threaten public health, safety, well-being or welfare of the population of a country.

Economic Regulations: These are rules by a government that are intended specifically to modify the economic behavior of individuals and firms in the private sector. Such rules are often backed by penalties.

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