Regulation refers to the rules and guidelines established by authorities to control and govern various activities within society. These rules are designed to protect public interests, ensure fairness, and promote safety in areas such as healthcare, environment, and finance. By setting standards, regulations help maintain order and prevent harmful practices. In the context of environmental regulation, for instance, laws are implemented to limit pollution and protect natural resources. Similarly, financial regulation aims to ensure the stability of financial markets and protect consumers from fraud. Overall, regulation plays a crucial role in maintaining a balanced and fair society.