Which of the following is a primary function of laws?

The correct response identifies a primary function of laws as establishing standards that reflect societal values and norms. Laws are fundamentally shaped by the moral beliefs, customs, and values of a society. They serve to codify what is considered acceptable and unacceptable behavior within that community, creating a framework that guides individual and collective conduct.

By reflecting these values and norms, laws help maintain social order and promote justice by ensuring that individuals understand their rights and obligations. This alignment with societal values allows laws to be more effective, as people are more likely to adhere to rules that resonate with their own ethical and moral understandings.

The other options do not serve as primary functions of laws in the same way. While regulations can sometimes impact economic growth or competition, these are not the central purpose of law itself. Simply put, laws are designed to facilitate a functioning society by embodying the collective norms rather than limiting individual freedoms or solely promoting economic interests.