What is regulation in an economic system quizlet?

-Consumers make all of their economic choices. -Producers make all of their economic choices. What is regulation in an economic system? Regulation is the placing of limits or restrictions on business activity by the government.Click to see full answer. Moreover, what is regulation in an economic system?Regulation is a rule or law designed to control the behavior of those to whom it applies. Those who fail to follow these rules are subject to fines and imprisonment and could have their property or businesses seized. The United States is a mixed economy where both the free market and government play important roles.Also Know, what is one downside for consumers to competition in a free enterprise system? Consumers have limited choices is one downside to competition in a free-enterprise system. Further Explanation: Free enterprises area form of economy where services, product, and price is determined by the market. It will be a form of Capitalism, not communism. Subsequently, question is, what is regulation in an economic system Brainly? Regulation in economic system is the placing of limits or restrictions on business activity by the government. Regulation can be called as a legislation that is imposed by the government on Private organizations and on individuals in order to do the modification of economic behaviors.Which group creates regulations in mixed market economies?Answer Expert Verified. It is the government who creates regulations. They make sure that that producers follow the laws and they create laws to ensure fair competition as well as prevent the rise monopolies and cartels who tend to dictate how the economy runs.