Question

Business often fails to regulate itself, and the lack of self-regulation is contrary to the public interest. To counterbalance, administrative agencies exist to

refer the problem or area to experts for solution and management.

develop detailed rules and regulations to carry out the legislative policy.

replace competition with regulation.

protect the public, especially from the business community.

Answer 1

Business often fails to regulate itself, and the lack of self-regulation is contrary to the public interest. To counterbalance, administrative agencies exist to protect the public , especially from the business community

• administrative agencies exercise their quasi-legislative power
• It is done by issuing guidelines that have the force and effect of law
• Adjudicating function of administrative agency deos fact finding and apply law to facts

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