Health and Safety Regulation

Health and safety regulation involves guidelines and laws designed to protect workers and the public from risks associated with various activities, such as industrial work or product use. In regulation economics, these rules aim to balance the costs of implementing safety measures with the benefits of reducing accidents and improving health outcomes. Effective regulations can lead to a safer environment, increased productivity, and lower healthcare costs overall. While they may impose certain costs on businesses, the ultimate goal is to foster a healthier society by preventing harm and ensuring safe practices across industries.