Final answer:
A regulatory agency has both quasi-legislative and judicial powers, enabling it to create rules with the force of law and adjudicate disputes in its jurisdiction.
Step-by-step explanation:
The type of agency that has quasi-legislative and judicial powers is known as a regulatory agency. These agencies have the authority to enact regulations that have the force of law, often filling in details that Congress may have left general or broad in statutes.
Regulatory agencies, such as the Federal Communications Commission (FCC) and the Securities and Exchange Commission (SEC), also possess judicial power as they can adjudicate disputes within their areas of jurisdiction.
Further, these agencies emerged from the need to manage the complexities of modern economic and social systems, not easily handled by legislation alone.
As independent entities, they are less influenced by transient political pressures, which allows them a consistent regulatory approach.