Regulatory Agencies: Definition, Role & Impact on Business


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Which one of the following is the BEST explanation of a regulatory agency?

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1. Advance notices of rulemaking are published in The _____.

2. The law that governs administrative appeals of regulation violations is _____.

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About This Quiz & Worksheet

This quiz and worksheet can help you assess your understanding of the roles of different regulatory agencies. Areas of focus include steps in the federal rule-making process and a description of a regulatory agency.

Quiz & Worksheet Goals

Use these assessment tools to review the following:

  • Steps involved in the federal rule making process
  • Things that make a regulatory agency unique in government
  • Publication in which notices of rule making appear
  • Law typically governing administrative appeals

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related macroeconomics lesson
  • Information recall - access the knowledge you have gained regarding the different steps involved in the federal rule making process
  • Critical thinking - apply relevant concepts to examine information regarding regulatory agencies in a different light

Additional Learning

To learn more about regulatory agencies, review the corresponding lesson titled Regulatory Agencies: Definition, Role & Impact on Business. This lesson covers the following objectives:

  • Determine what a regulatory agency is
  • Identify the impact a regulatory agency has on business
  • Examine what regulatory agencies do
  • Learn why the Administrative Procedure Act was created