7.4 Political and Legal Change

Question 1

What does the political environment include?

Answer 1

Encouraging enterprise
The regulation of markets
The country’s infrastructure
Issues relating to the environment
International trade

Question 2

What is the role of regulators?

Answer 2

Comply with the rules to help regulate and gain a better outcome for consumers

Question 3

What is regulation?

Answer 3

The enforcement or principles or rules that result from the passing of a law or series of laws

Question 4

How does regulation effect a business?

Answer 4

Create free and fair competition between businesses
Regulate high profile industries - banking and financial services
Privatised monopolies to protect consumers and other businesses
Self regulation by businesses

Question 5

When can an employee be dismissed fairly?

Answer 5

Where a job no longer exists - redundancy
Gross misconduct
Failing to carry out duties in a satisfactory manner
Ending of a contract

Question 6

What are the environment laws?

Answer 6

Climate change
Air, water and land pollution
Waste management
Protection of nature, species and biodiversity
Noise pollution