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SS3: COMMERCE - 1ST TERM

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  1. Business and Its Environment | Week 1
    2 Topics
    |
    1 Quiz
  2. Introduction to Marketing | Week 2
    6 Topics
    |
    2 Quizzes
  3. Consumer Protection | Week 3
    1 Topic
  4. Instruments for Protection | Week 4
    9 Topics
  5. Agencies that Educate and Protect Consumers | Week 5
    8 Topics
    |
    2 Quizzes
  6. Business Documents | Week 6
    3 Topics
    |
    2 Quizzes
  7. Means of Payment | Week 7
    5 Topics
    |
    1 Quiz
  8. Commercialization | Week 8
    4 Topics
  9. Privatization | Week 9
    4 Topics
  10. Deregulation | Week 10
    2 Topics



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Lesson 10, Topic 1
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Meaning of Deregulation

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Deregulation can be defined as the deliberate reduction or elimination of government rules and regulations in a particular sector of the economy on the production and distribution of goods and services.

Deregulation involves the reduction of government power which is exercised in a particular industry in order to create more competition within the economy. It is a deliberate policy and action to simplify government regulations that constrain or limit the operation of market forces.

It is usually implemented in socialist and mixed economics where there may be excessive ownership and control of businesses and industries by the government.

Deregulation is usually necessary in order to relax or simplify all forms of government power and control in some economic activities such as production, distribution, consumption, exchange, price control, income distribution etc.  Some of the economic sectors that can be deregulated are the downstream sector of oil, communication and aviation industries, power and energy sector etc.

Deregulation also means decontrol which implies putting in place “policies to free trade and other business activities from rules and controls towards a free market economy”.

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