Government regulation discussion


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Government regulation discussion


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Think about the types of regulations you learned about in this chapter. Many of the regulations affected both producers and consumers. For example, a regulation about making a safe product affects how a product is made. The production process also affects production costs and a product’s price. If a company follows all the safety regulations, then consumers are buying a safer—but most likely more expensive—product. In this example, the producer followed the regulation, and the consumer responded. But as a consumer you may also have to follow regulations. For example, if you want to renovate your home, you will have to follow government rules, too. In this project, you will learn more about a government regulation of your choice. OBJECTIVES Explain a government regulation that involves the environment. Identify advantages and disadvantages of the regulation. Explore how the regulation affects the economy. VOCABULARY incentive something that motivates someone to act in a certain way regulations rules that govern behavior Vocab Arcade Materials: For this project, you will need: Computer (for research) Paper and pencil Project You have studied different government regulations. Now, it is your turn to choose a regulation and to learn more about it. 1) Select a government regulation. For example, you can find: Regulations about the environment and human health at http://www.epa.gov/ Regulations about safety and health in the workplace at http://www.osha.gov/ Regulations about public health (such as providing safe medicines, food, and even makeup) at http://www.fda.gov/ You can also look for regulations on other government Web sites. After you have chosen your regulation, show it to your teacher for approval. 2) Explain your regulation. Include whom it affects (such as people in the workplace) and where this regulation applies (such as office buildings). Your explanation can be expressed as a 2 or 3 sentence response OR as a picture. 3) In one sentence, state the government incentive behind the regulation. Then in 1 or 2 sentences, explain how this regulation achieves the government’s goal. 4) List three advantages of the regulation. Then list three disadvantages of the regulation. 5) Finally, you will discuss how the regulation affects the economy. In 3 or 4 sentences, describe how producers and consumers are affected by the regulation. If you do not believe that a group is affected, state it. For example, you may write, “Consumers are not affected by this regulation.” If the regulation affects the production of goods and services, include the regulation’s effect on the price, quality, and quantity of the product. If the regulation involves the production side, include the regulation’s effect on production costs and price. Then discuss the consumer’s response.