A regulated market or controlled market, is the provision of goods or services that is regulated by a government appointed body. The regulation may cover the terms and conditions of supplying the goods and services and in particular the price allowed to be charged and/or to whom they are distributed. It is common for a regulated market to control natural monopolies such as aspects of telecommunications, water, gas and electricity supply. Often regulated markets are established during the partial privatisation of government controlled utility assets.
A variety of forms of regulations exist in a regulated market. These include controls, oversights, anti-discrimination, environmental protection, taxation and labor laws.
In a regulated market, the government regulatory agency may legislate regulations that privilege special interests, known as regulatory capture.
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Famous quotes containing the words regulated and/or market:
“Accidents will happen in the best regulated families.”
—John Dos Passos (1896–1970)
“Forbede us thing, and that desiren we;
Preesse on us faste, and thanne wol we flee.
With daunger oute we al oure chaffare:
Greet prees at market maketh dere ware,
And too greet chepe is holden at litel pris.”
—Geoffrey Chaucer (1340?–1400)