Economic regulation refers to the rules and guidelines established by government authorities to control and oversee economic activities within a market. This includes setting prices, determining service quality, and ensuring fair competition among businesses. The primary goal is to protect consumers and maintain market stability while promoting economic growth. Regulatory bodies, such as the Federal Trade Commission and the Securities and Exchange Commission, play a crucial role in enforcing these regulations. By monitoring industries like telecommunications and finance, they help prevent monopolies and ensure that companies operate fairly, ultimately benefiting consumers and the economy as a whole.