Deregulation refers to the reduction or elimination of government regulations on industries, businesses, or specific sectors of the economy. It aims to promote more competition and flexibility within those areas.
Related terms
Monopoly: When one company dominates an industry due to lack of competition, which can be prevented through regulation.
Consumer protection laws: Regulations aimed at protecting consumers from unfair practices by businesses.
Antitrust laws: Laws designed to prevent monopolies or unfair business practices that harm competition.