Legal (week3)

Question 1

Government Control Approaches

Answer 1

Three main approaches to analyzing government control over firms: Ownership, Regulation, Lobbyism.

Question 2

State Ownership

Answer 2

Government control via direct ownership of key firms.

Question 3

Public Sector Firms

Answer 3

Firms owned or partly owned by governmental authorities, providing public goods and services.

Question 4

Regulation Theories

Answer 4

Two theories: Public-Interest (address market failures) and Private-Interest (redistribute resources).

Question 5

International Regulations

Answer 5

Regulations set by international institutions impacting multiple countries.

Question 6

Basel Accords

Answer 6

Regulations created in response to financial crises, impacting the banking sector.

Question 7

Lobbyism

Answer 7

The practice of influencing government decisions, either directly or indirectly.

Question 8

Lobbyism Impact

Answer 8

Lobbyism can lead to undue influence or policy capture, but it’s a slow process.