Identify the true statement in each of the three modules. Identify the true statement. Deregulation can describe removing govern
ment control of the price of a good but not the removal of government control of quantities. Deregulation can describe either removing government control of the price of a good or the removal of government control of quantities. Deregulation can describe removing government control of the quantity of a good but not the removal of government control of price.
Deregulation can describe either removing government control of the price of a good or the removal of government control of quantities.
Explanation:
Deregulation is the removal of government control , regulation or power in a particular sector or industry. An example of deregulation is the mail delivery. The government had a monopoly on the royal mail for many years
Deregulation can involve :
removal of government control on price
Removal of control on quantities
Advantages of deregulation
It increases the rate of innovation and competition. This increases consumer choice.
Efficiency of corporations are increased and this lowers cost
Disadvantages of deregulation
Customers are more vulnerable to high risk-taking by companies.
The normal procedure under the misstatement of age provision
in regard to the payment of the death claim is that the procedure would be
reduced based on the premium in which whatever it would have been if this has
been purchased at the age of fifty nine years old.
