Deregulation
Deregulation Meaning:
The process of the removal of government regulation from markets, thereby allowing market forces to function without impediment. The goal is increased competition and efficiency.
The process of the removal of government regulation from markets, thereby allowing market forces to function without impediment. The goal is increased competition and efficiency.
In the United States, the airline industry significantly deregulated in 1978, allowing airlines to more freely choose what routes to fly and how much to charge for tickets. This led to increased competition and lower fares for customers.