Which of the following best describes the law? January 1, 2023 by admin Law is basically a device to regulate the economic and social behaviour of society. In society as a regulatory tool, the law informs people of what they can and cannot do and that if they break the law, they could be punished. The law as a regulatory device provides a mechanism for society to function in an orderly fashion, by prioritising needs and desires of that society through Acts and Regulations of Parliament. All of the above. See Answer In society as a regulatory tool, the law informs people of what they can and cannot do and that if they break the law, they could be punished.