Final answer:
The statement is false; the part of the label describing hazards is typically the hazard statement or warnings, not "Formulation." The formulation relates to the chemical makeup, while the hazard information communicates the risks to humans and pets, often summarized by the NFPA hazard diamond.
Step-by-step explanation:
The part of the label that states the hazards to humans and domestic pets is typically referred to as the hazard statement or warnings, not the "Formulation." The formulation usually refers to the chemical makeup or ingredients of the product. To determine the hazards associated with a particular chemical substance, one would look at safety data sheets or warning labels that include the National Fire Protection Agency (NFPA) hazard diamond, which provides a quick and general overview of the dangers posed by a chemical, including flammability, reactivity, and health risks.
In the context of environmental biology and the United States Department of Transportation, as well as the Environmental Protection Agency's hazardous waste regulations, there is a strong emphasis on identifying and regulating substances that could pose a risk to human health and the environment. This includes both naturally-occurring and synthetic elements or compounds. Examples of risky substances include chemicals found in nail products like dibutyl phthalate (DBP), toluene, and formaldehyde, some of which are also regulated due to their potential toxic effects.
Overall, safety and regulation in the use of chemicals is a critical concern in developed countries, where there are government regulations aimed at controlling the use of potentially hazardous materials. This extends to the pharmaceutical industry as well, where a drug must undergo an acceptable risk assessment before it can be approved for administration to humans.