government and the EU

Question 1

EU regulations

Answer 1

accounting regualtions 
the trade descriptions act 
health and safety laws
the minimum wage 
maternity and paternity rights

Question 2

how can businesses avoid government intervention?

Answer 2

moving to ireland where corporation tax is lower
producing products in countries with a lower minimum wage
selling products in countries with relaxed health and safety laws

Question 3

taxation: examples of government taxation include:

Answer 3

VAT (value added tax)
corporation tax
income tax
national insurance (NI)

Question 4

taxes high

Answer 4

consumers spend less

profits fall and dividends fall

Question 5

taxes low

Answer 5

consumers spend more

profits and dividends rise

Question 6

benefits of minimum wage

Answer 6

small businesses are able to compete with big businesses who might force down wage rates

Question 7

drawbacks of minimum wage

Answer 7

higher costs of labour reduce profits

Question 8

benefits of maternity and paternity rights

Answer 8

better relationships with employees and work-life balance.

Question 9

drawbacks of maternity and paternity rights

Answer 9

working days are lost whilst employee is on maternity or paternity leave.

Question 10

benefits of health and safety regulations

Answer 10

fewer work-related accidents and injuries

Question 11

drawbacks of health and safety regualtions

Answer 11

costs of health and safety regulations can hinder productivity.