Deregulation is a governmental policy or process that involves the reduction or removal of regulatory restrictions, rules, and oversight within a specific industry or sector of the economy. The primary objective of deregulation is typically to foster greater competition, increase efficiency, and reduce government intervention in market operations. This reduction in government intervention can lead to changes in pricing, entry barriers, and operational standards within the industry. Deregulation aims to promote market forces and competition as the driving factors in the industry’s operation.
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