Businesses and the Political and Legal Environment

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  • Created by: mad0104
  • Created on: 12-04-15 14:34
Economic Policy
A series of actions through which the authorities attempt to create the best possible economic environment for businesses and individuals
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The Economy
The complex interaction of millions of consumers, thousands of businesses, and governments in supplying a wide range of goods and services
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Balance of Payments
A record of a country's trade and employment occurring in an economy at a given point in time
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Laissez-faire
A policy in which governments reduce taxes and spend less on supporting the activities of businesses
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Supply-side Policies
Designed to improve the free operation of markets and therefore the total amount that is produced by the economy
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Direct Taxes
Taxes on income and wealth eg. income tax, corporation tax and inheritance tax
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Indirect Taxes
Taxes on spending, for example, value added tax
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Interest Rates
The price of borrowed money
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Fiscal Policy
The use of taxation and public expenditure to manage the level of economic activity
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Monetary Policy
Controlling the amount of money and/or interest rates within the economy in order to achieve the desired level of economic activity
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Privatisation
The process of transferring organisations from state to the ownership and control of individuals and other businesses
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Consumerism
An approach that places the interests of the consumer at the heart of discussion about business decision or activities
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Consumer Protection
A term used to describe a series of Acts designed to safeguard consumers
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Other cards in this set

Card 2

Front

The complex interaction of millions of consumers, thousands of businesses, and governments in supplying a wide range of goods and services

Back

The Economy

Card 3

Front

A record of a country's trade and employment occurring in an economy at a given point in time

Back

Preview of the back of card 3

Card 4

Front

A policy in which governments reduce taxes and spend less on supporting the activities of businesses

Back

Preview of the back of card 4

Card 5

Front

Designed to improve the free operation of markets and therefore the total amount that is produced by the economy

Back

Preview of the back of card 5
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