Deregulation
Definition
Deregulation is the process of removing or reducing state regulations on industries to create an environment where there's more competition and efficiency within the market.
Analogy
Imagine if your school decided to remove some rules about what you can wear. Suddenly, you have more freedom to express yourself through your clothing choices. This is similar to deregulation - businesses get more freedom to operate as they see fit without strict rules limiting them.
Related terms
Regulations: Rules or directives made and maintained by an authority that guide how something should be done.
Market Competition: The rivalry among companies trying to sell products and services in a particular market.
Economic Liberalism: A political ideology that values the freedom of individuals — including the freedom of religion, speech, press, assembly, and markets — as well as limited government.
"Deregulation" appears in:
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