___regulation applies to specific industries, whereas _economic social regulation applies to businesses throughout the economy. Governments commonly regulate the prices and quality of services provided by electric, gas, and other utilities, which traditionally have been consideredtechnological oligopolistic geographic natural monopolies. Governments also single out various nonmonopolistic industries, such as the financial and transportation industries, for special forms of economic social regulation. Among the common forms of economic social regulation covering all industries are the occupational, health, and safety rules that federal and state governments impose on producers.

Generally, economic regulation are only applicable to business firms or organizations in a specific industry while social regulation is generally applicable to all of the business firms established throughout the economy or country.

A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.

For example, a public power company is an example of a monopoly because they serve as the only source of power utility provider to the general public in a society.

Governments commonly regulate the prices and quality of services provided by natural monopolies.

The Occupational Safety and Health Administration (OSHA) is a federal agency saddled with the responsibility of assuring and ensuring safe and healthy working conditions for employees by setting and enforcing standards, providing education, trainings and assistance to various organizations.