Define Deregulation: - Leaving Cert Business - Question 9 - 2002

Deregulation refers to the reduction of government regulation and interference in business activities. It promotes a culture of free enterprise and encourages the opening up of economies to external influences. Essentially, deregulation involves transforming centrally controlled economies into market-led economies.

Furthermore, deregulation often includes removing protective measures that previously restricted competition in the market. An example of this can be seen in sectors such as taxi services and air travel, where competition has been allowed to flourish due to fewer regulatory constraints.