Government regulation refers to laws, rules, and policies implemented by governmental bodies that aim to control or govern certain aspects of business operations in order to protect public interests.
Related terms
Deregulation: Refers to the reduction or removal of existing regulations by the government in order to promote free market competition.
Regulatory agencies: Organizations created by the government with delegated authority to enforce specific regulations within industries or sectors (e.g., FDA for food safety).
Compliance: The act of conforming with established rules and regulations set forth by governing bodies.