Made up of all the organisations that provide goods and services, and all the individuals and organisations that buy them.
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What is the public sector?
Organisations owned or run by the government and local councils. Main purpose is to provide a service - education, defence, transport, community centres, etc.
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What is the private sector?
Businesses or organisations that are owned by individuals or by shareholders. Main purpose is to make a profit, but this sector also includes charities that raise money for good causes.
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What is a shareholder?
Someone who owns part of a business by owning shares in a company.
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Give examples of direct and indirect tax.
Direct tax - income tax, national insurance. Indirect tax - car tax, VAT, airport tax, council tax.
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What does the government spend money on?
Social security (benefits), health, education, defence, International Aid.
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What do local councils spend money on?
Education, social services, libraries, waste disposal, roads, planning, housing, fire and rescue, trading standards, parks, recreation, and environmental health.
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How can employers' interests conflict with the need to protect the environment?
Too much packaging that can't be recycled. Changing to environmentally friendly packaging may be expensive and less aesthetically pleasing, resulting in less sales and more cost, so overall less profit.
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What is landfill tax?
Money paid for waste deposited at landfill sites. Businesses can reduce tax they pay by reusing and recycling more.
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What is air passenger duty?
A special tax when you buy an airline ticket, designed to discourage people from flying.
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What is the congestion charge?
A fee paid by drivers each time they take their vehicle into Central London. Designed to reduce traffic and encourage people to use public transport and reduce pollution.
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What is road tax?
Some environmentally friendly cars do not have tax. Vehicles with high CO2 emissions pay high tax.
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What is patent law?
Patent is the legal right to stop others from copying, making, or selling an invention without permission. E.g. Dyson vacuums are patented. If the invention is exploited the patent holder can take legal action.
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What is copyright law?
Copyright applies to written and recorded material. When work is produced (e.g. a book is published), copyright automatically protects it. Copyright prevents people from plagiarising other people's work.
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Other cards in this set
Card 2
Front
What is the public sector?
Back
Organisations owned or run by the government and local councils. Main purpose is to provide a service - education, defence, transport, community centres, etc.
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