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Chapter 11: Q. 8 (page 272)

What real world changes made the deregulation possible?

Short Answer

Expert verified

Deregulation was made possible by technical advancements.

Step by step solution

01

Definition

Deregulation is defined as the removal, relaxation, or abandonment of certain norms and regulations governing business and industry.

02

Explanation

The real-world improvements that enabled deregulation to include technological advancements such as cell phones and Skype. The government stimulates competition more, which is an advantage of deregulation.

Years before the invention of wireless phones, telephone technology required a wire to be extended throughout the house. It was probable that the average cost of telephone service was decreasing, and that there may be a need for regulation similar to natural monopoly. However, technical advancements enabled deregulation.

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