21. Supply side policies

Question 1

Supply side policies

Answer 1

Government policies aimed at increasing the LRAS/potential output of the economy

Question 2

Labour market

Answer 2

Where labour is bought and sold

Question 3

Product market

Answer 3

Markets where all kinds of goods and services are traded

Question 4

Trade union

Answer 4

An organisation set up to negotiate on wages, working hours and conditions with employers on behalf of its members, using bargaining power.

Question 5

Deregulation

Answer 5

The process of removing government controls from markets