Chapter 12 Government Objectives Policies

Last updated over 1 year ago

1 question

Draggable item		Corresponding Item
Tax allowances		This is the amount of money spent on public services e.g. health, education, defence, policing
Trade barriers		The government raises revenue from taxes VAT, corporation, income
Dumping		Using changes in taxation and government expenditure to manage the economy
Subsidy		The government is responsible for building roads, bridges, railways, power generators, schools, hospitals,
Anti-competitive practices		Restrictive trade practices attempt by firms to prevent or restrict competition
Government spending		Restrictions that mean it is difficult for new firms to enter a market
Infrastructure		Use of trade barriers to protect domestic producers
Infant industries		New industries that are yet to be established
Budget		Where a business sells goods in another country often below cost
Barriers to entry		Measures designed to restrict trade
Monetary policy		Physical limit on the quantity of imports allowed into a country
Fiscal policy		Financial support given to a domestic producer to help compete with overseas firms
Quota		Price of borrowed money and reward to savers
Protectionism		Using changes in interest rates and the money supply to manage the economy
Interest		An official statement that government makes about how much the expenditure & taxation rates will be for the next year
Taxation		Part of income that is not taxed