Register

Leaving Certificate Business Definitions Practice Test

Access More Questions
Which term is used to describe the removal or simplification of rules to foster competition within markets?
Correct Answer:
Deregulation
Explanation:
Removing or simplifying rules that govern how markets operate is aimed at boosting competition by reducing barriers to entry and letting market forces work more freely. This approach is deregulation. It can involve eliminating or easing controls like licensing, price rules, or entry restrictions that limit competition. Privatisation, by contrast, is about selling state-owned businesses to private owners. Regulation refers to the imposition of rules, not their removal. Liberalisation broadens market access and may include deregulation, but the specific idea of removing or reducing rules to foster competition fits best with deregulation.

Access more questions from this quiz

Continue to Leaving Certificate Business Definitions Practice Test for more practice questions and the full quiz experience.

Access More Questions