Microeconomics

(2b) Social regulation is undertaken with the intention of improving the quality of life. The agencies most people are familiar with include: the Food & Drug Administration (FDA); the Equal Employment Opportunity Commission (EEOC); the Occupational Safety & Health Administration (OSHA); the Environmental Protection Agency (EPA); and the Consumer Product Safety Commission (CPSC).

• Select one of the social regulatory agencies that you feel has affected your life. Explain why you chose this agency and what the impacts to you have been. Do you consider the impact to be positive or negative? Why?
• For the agency you selected, do an Internet search to find a specific example of an action this agency took regarding a specific situation or product. Write a summary of what you found “in your own words” and include the exact URL so we can all visit the webpage. Use quotation marks if any content is used directly from the outside source.
• Opponents to regulation dislike government involvement in the markets. Should the government be involved in social regulation? Why or why not?

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