It is crucial to prevent misuse of monopoly power, as this can lead to delivery of poor services with very high prices.
[1][2] Often, regulated markets are established during the partial privatisation of government controlled utility assets.
These include controls, oversights, anti-discrimination, environmental protection, taxation, and labor laws.
[2] The practice of regulating markets dates back centuries when ancient societies relied on standardised weights and measurements and practised punishment for theft and fraud.
For the most part, market regulations have been imposed by the central governments and to a lesser extent by interest groups.