Imagine a situation when a cell starts producing enzymes required for metabolism and those required for cell death (apoptosis) at the same time. The cell will be in a confused state and will not know which function to perform first. The needs of the body keep changing with time and cell has to tune itself to perform the desired set of activities. Gene regulation helps a unicellular organism to adapt well to the environment.
The genetic code is same in all the cells in case of multicellular organisms but the regulation of genes helps different cells to perform different functions.
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