Final answer:
True, Self-regulation means that a profession governs and manages itself.
Step-by-step explanation:
Self-regulation means that a profession governs and manages itself. It is the ability of a profession to set its own rules, standards, and disciplinary measures without external interference. Professionals in a self-regulating profession are responsible for ensuring that they adhere to the ethical guidelines and maintain competency in their field.
For example, in the medical profession, self-regulation is achieved through medical boards and professional organizations such as the American Medical Association. These organizations establish standards of practice, investigate complaints against doctors, and impose disciplinary actions if necessary.
Therefore, the statement 'Self-regulation means that a profession governs and manages itself' is true.