1.12 Government Objectives and Polices Flashcards
1
Q
fiscal policy
A
using changes in taxation and government spending to manage the economy
2
Q
lay off (staff)
A
make employees redundant - no longer needs you
3
Q
anti-competitive practices
A
practices that prevent competition and may exploit customers: price-fixing, raising barriers of entry
4
Q
barriers of entry
A
restrictions more difficult for new firms to enter a market
5
Q
protectionism
A
use of trade barriers to protect domestic producers