Regulation and market structures Homework Help

Regulation and market structures

Introduction

Economic regulation or industrial regulations depicts the rules and procedures that are put in place by the government or the relevant authorities to restrict the activities of the firms and business players in a given industry. These regulations have an impact on the activities of the businesses of a given industry. The essence of economic or industrial regulations is the economic policies set by the government to safe guard the interest of the public and to ensure free play among the private firms. The compendium of every economic activity is free price that determines demand, or demand that determines price, however for the government to protect the its citizens against exploitation by industry players, regulations have to be set that shapes the direction of price in the economy. Most authors in this field posit economic regulations the interventions designed by the government to influence the how the firms in an industry conduct themselves. Intervention may present itself in the form of taxes, penalties and other forms of regulations that are deemed effective by the government. In many economies across the world states that employee both capitalism and socialism have to protect the interest of their citizens. In most cases the regulations are meant for the private sector ( Simeon , & Djankov, 2005).

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