by Gabriela Lopez & Amy Rosales
Regulation occurs when the government steps into a market to affect the price, quantity, or quality of a good. Regulation usually raises costs.
The act of regulating or the state of being regulated.
ex. Chevy makes a car that spews out pollution and costs $10,000 to build. The government says "No, you can't pollute. You have to make it pollute a certain percent less" Chevy, "But that makes it much more expensive to build!" Now the car costs $15,000 to make.
Regulation they step in, and control food to make sure the food that is being sold is safe to eat. They look over the water and how its being cleaned by all the chemicals added in them.