Chapter 20: supply-side policies Flashcards
1
Q
Supply-side policies
A
A range of measures designed to increase AS and therefore the potential output of the economy, though many improvements may come from the private sector.
2
Q
Labour markets
A
An example of a factor market, in this case where labour is bought and sold.
3
Q
Product market
A
Markets in which all kinds of goods and services are traded, e.g. the market for airline travel or for mobile phones.
4
Q
Trade unions
A
An organisation of workers set up to negotiate on wages, working hours and working conditions with employers on behalf of its members.
5
Q
Deregulation
A
The process of removing government controls from markets.
