1.12 Government Objectives and Polices Flashcards

1
Q

fiscal policy

A

using changes in taxation and government spending to manage the economy

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2
Q

lay off (staff)

A

make employees redundant - no longer needs you

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3
Q

anti-competitive practices

A

practices that prevent competition and may exploit customers: price-fixing, raising barriers of entry

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4
Q

barriers of entry

A

restrictions more difficult for new firms to enter a market

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5
Q

protectionism

A

use of trade barriers to protect domestic producers

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