Government regulation refers to the rules and laws created by authorities to control how businesses and individuals operate. These regulations are designed to protect public interests, such as health, safety, and the environment. For example, the Environmental Protection Agency sets regulations to limit pollution and ensure clean air and water for everyone. Regulations can also help maintain fair competition in the market. By enforcing rules, the government can prevent monopolies and ensure that no single company has too much power. This way, consumers have more choices and can benefit from better products and services, contributing to a healthier economy.