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 occur in the best regulated families; and in families not regulated by that pervading influence which sanctifies while it enhances the—a—I would say, in short, by the influence of Woman, in the lofty character of Wife, they may be expected with confidence, and must be borne with philosophy.”
—Charles Dickens (1812–1870)
“Today the tyrant rules not by club or fist, but, disguised as a market researcher, he shepherds his flocks in the ways of utility and comfort.”
—Marshall McLuhan (1911–1980)