Answer 1
Essentially regulation refers to government intervention in the free market system wherein rules of operation are mandated on the industry by the government authority. Under a free market system, the companies themselves determine what is produced and at what price. See Question 2 for more on the reasons for regulation.
Answer 2
Internationally, the leading host cities for conventions and meetings are Paris, London, Geneva, Vienna, Barcelona, Brussels, Berlin, and Singapore. The top U.S. cities would include Las Vegas, Orlando, Chicago, New Orleans (before Hurricane Katrina), New York, and San Francisco. The cities most successful in attracting conventions and meetings are those with lots of attractions and diversions for attendees to enjoy once the formal business sessions are over.