Economics A-Level
Regulation
What Regulation means in Economics A-Level, as defined for AQA.
Definitions of Regulation
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Reference: AQA
Setting legal rules, such as emissions limits for factories, to force economic agents to change their behaviour and alter how resources are utilised.
Intervention by regulatory bodies such as the CMA, which faces high administrative costs and the risk of regulatory capture.
Action by UK regulatory bodies, such as Ofgem or Ofwat, to mitigate the negative effects of privatised natural monopolies.
Topics that use Regulation
- Competition policy (AQA A-Level)
- Government intervention in markets (AQA A-Level)
- Public ownership, privatisation, regulation and deregulation of markets (AQA A-Level)
Related terms
- Government failure
- Monopoly power
- Allocative efficiency
- Asymmetric information
- Consumer welfare
- Economic modelling
- Economic performance
- Economic systems
Using Regulation in the exam
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