...Q1. Market Failure: is to do with not having enough resources to produce enough goods and services needed neither by the government nor by the society, as a result of this failure, the government develop a role to intervene in the economy in order to overcome these problems. 1. Public goods: According to the business dictionary, public good is an item whose consumption is not decided by the individual consumer but by the society as a whole; and which is financed by taxation. A public good or service may be consumed without reducing the amount available for others and cannot be withheld from those who do not pay for it. E.g. parks, police services, fire services etc. Consumers have an incentive to not reveal their willingness and ability to pay for public goods if they believe that they will be expected or required to contribute to financing the public good accordingly by the government. After all, if the public good is supplied, it will be available to them just as it would be to anyone else because pure public goods are non-excludable. This is the essence of the “free rider problem”: the incentive which consumers have to avoid contributing to financing public goods in proportion to their valuation of such good. Good examples to use include TV licence dodgers and people who choose to evade the Council Tax but who still receive local authority services. Another example might be a group of residents in a block of flats who all stand to benefit from the refurbishment of an...
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...Task 5 M1 – Analyse the implications of government policies on Balfour Beatty. * Discuss how changes in the levels of priorities of government spending might affect the company. How might managers react to these changes? * An explanation of the multiplier mechanism. * Discuss effects on the firm’s possible expansion plans. * You should analyse the impact that government policies have on a selected business and the possible reactions of the business to the decisions. (Word document 2/3 sides of A4) The table below will help you to structure your work – when you analyse the impact of each policy remember to discuss in terms of government spending priorities and M1 links with P2 and P3. Policy | Definition | Example (S) | Business ImpactAdvantages and disadvantages | Management Reaction to Policy | Economic Policy | Economic Policy designed to deal with growth, unemployment and inflation to improve standards of living and reduce unemployment. Linked with policies on education, training and skills. | In December 2009, the (then) Chancellor of the Exchequer, Alistair Darling, announced a package of measures to try to tackle unemployment. These included internships and guarantees of places in education or training for every 16 and 17 year old in the UK. This was due to the level of young people being NEET (Not in Employment, Education or Training) exceeding one million people, i.e. 1 in 10 of people aged 16– 19. | An advantage to the business...
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...HLT-205 April 17, 2016 Instructor: Deborah Conway Government Agencies and Health Policy The United States Health Care system has evolved from the home visit by the town doctor concept, to a more complex system of regulatory agencies, policies, rules and regulations that govern the practice and art of medicine. It is a system in which billions of dollars have been budgeted and dedicated to ensuring the country is delivering affordable, quality care. The ultimate goal of the U.S. system is making sure quality care is accessible to its consumers and is value added care that will result in clinical outcomes aimed at reducing the nation’s mortality rate and increasing or extending the average life expectancy. In order to achieve that goal the system is divided into different segments, with each segment responsible for a specific function. For example, there are agencies that are responsible for the safety of prescriptions drugs; credentialing and accreditation; payments and reimbursements; and infectious diseases just to name a few. In addition to the agency’s specific function, the agency’s goals and objectives are driven by a specific mission and operate within their assigned scope; one such agency is the Center for Disease Control and Prevention (commonly referred to as the CDC). This essay will examine: the mission of the CDC; issues that are addressed by the CDC; the impact and influence the CDC has on policy and delivery and current initiatives of the CDC. The essay...
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...The Governments Fiscal Policy and Healthcare Proposals Trisha Elledge Colorado Christian University Abstract Bernie Sanders is looking to convert our country to a universal single-payer healthcare system. The following paper will break apart the article written by Avik Roy for Forbes titled Bernie Sanders’ Single-Payer Health Care Plan Would increase Federal Spending By At Least $28 Trillion. By converting to a single-payer healthcare system households would suffer more than they would thrive. Increased taxes, less government revenue and a higher unemployment rate can all come from implementing Berniecare into our country. Although Bernie Sanders is claiming to give “free” healthcare to all, I will point out why it is not free at all and why we should give the control of our healthcare back in to the hands of the people and out of the control of the government. The Governments Fiscal Policy and Healthcare Proposals According to Reem Heakal with Investopedia, “Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy.” This can include the changing of tax rates nationally or adding a new local tax, adjusting where money is spent and allocated or changing where our government dollars and tax dollars will be used. Each year the government decides where our money will be divided out by agreeing on the upcoming year’s budget, however; as the year goes on money is overspent or gets cut and has...
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...Government Policies for Economic Growth and Productivity Michael Pintar ECN400 – Managerial Economics Colorado State University Global Campus Dr. John Speir November 11, 2012 Government Policies for Economic Growth and Productivity Michael Pintar ECN400 – Managerial Economics Colorado State University Global Campus Dr. John Speir November 11, 2012 Government Policies for Economic Growth and Productivity Government policy for promoting economic growth and productivity has tremendous bearing on our standards of living today and our future. Our policymakers’ ability to exercise proper fundamentals of economic growth determine the livelihood of our next generations (Mankiw, 2012). Whether policies encourage savings and investment, fund R&D, practice free trade, or promote education, the government has many tools and options for controlling our quality of life. Savings and Investment One method of boosting growth and raising standards of living is by government encouragement of savings and investment in an effort to raise capital. Unfortunately, the economic trade-off to achieve more capital requires reduced present day spending on goods and services in exchange for higher future consumption (Mankiw, 2012). To encourage savings, the government may consider a few principal actions: 1), raising current interest rates, thereby reducing demand for loanable funds and encouraging incentive to save, and / or 2), a tax reform intended for reduction of...
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...are affected by government policy Governments create the rules and frameworks in which businesses are able to compete against each other. From time to time the government will change these rules and frameworks forcing businesses to change the way they operate. Business is thus keenly affected by government policy. Key areas of government policy that affect business are: Economic policy A key area of government economic policy is the role that the government gives to the state in the economy. Between 1945 and 1979 the government increasingly interfered in the economy by creating state run industries which usually took the form of public corporations. However, from 1979 onwards we saw an era of privatisation in which industries were sold off to private shareholders to create a more competitive business environment. Taxation policy affects business costs. For example, a rise in corporation tax (on business profits) has the same effect as an increase in costs. Businesses can pass some of this tax on to consumers in higher prices, but it will also affect the bottom line. Other business taxes are environmental taxes (e.g. landfill tax), and VAT (value added tax). VAT is actually passed down the line to the final consumer but the administration of the VAT system is a cost for business. Another area of economic policy relates to interest rates. In this country the level of interest rates is determined by a government appointed group - the Monetary Policy Committee which...
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...(Uniforms) Unit 1 Government, Policies and the Public Service 14 January 2016 The impact of UK Government Policies on the Public Services Human rights Each UK citizen has certain rights, these include the rights to: Life, Prohibition of torture, Prohibition of slavery and forced labour, Liberty and security, A fair trial, No punishment without law, Respect for private and family life, Freedom of thought, conscience and religion, Freedom of expression, Freedom of assembly and association, Marry, Prohibition of discrimination, Protection of property, Education, Free elections, and Abolition of the death penalty. Environmental Air quality plan for reducing nitrogen dioxide (NO2) in Greater London urban area listing (UK0001) The Air quality plan is setting out what the government will be doing about improving the air quality in London as well as reduce nitrogen dioxide emissions. Another is “River Thames: application for registration of a launch” The government are setting out a registration for a powered boat to be in the river thames. The boats that are not included are Kayaks, canoes, and other non powered boats. The reason for this is to attempt reduction in emissions and other toxic wastes. All boats kept, rented, or let for hire must be registered with the Environment Agency (Inland Waterways) Order 2010 annually to calculate the amount of emissions entering the water. Affecting the military services Declaration of war Some policies have an immediate...
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...requirements that can be acquired from the government. This proposed study tends to know the effects of the government policies on setting up a business, its advantages and disadvantages to the business, and if the requirements are just enough or too much for the business people to comply with. REVIEW OF RELATED LITERATURE Every business must get a certificate of registration first depending on their business’ structure. A sole proprietor business must get it on Department of Trade and Industry (DTI), for partnership and corporations is the Securities and Exchange Commission (SEC), and Cooperative Development Authority (CDA) for the cooperatives. After getting your certificate of registration, you will need to visit the following offices: Homeowners Association for businesses inside villages and subdivisions, Barangay Hall to secure a barangay clearance to operate your business, Local Government Unit (LGU) to process your business permit, Bureau of Internal Revenue (BIR) to apply for a business taxpayer identification number (TIN), register your books of accounts, point-of-sales (POS) machines and receipts. In the past, economists thought that government policies has no impact on business, but after the 1930’s Great Depression, a great economist named Keynes, showed that businesses are affected by the government policies. The following policies of a government can impact business directly or indirectly:...
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...Examine the approach and policies of governments towards families During the period 1945-1970’s the government attempted to develop the welfare state by adopting an approach that was highly interventionist. Over the last fifty years, the state has changed considerably. It has gone from being a ‘big’ state in years between 1945 – 1970, to a state which gives minimal state support in the years between 1980 and 1990 and an enabling state from the years 1997 -2010. The welfare state is a social system whereby the state assumes primary responsibility for the welfare of its citizens, as in matters of health care, education, employment, and social security. A social policy is simply a proposal or an initiative that is put into practise by a political party or a government that relates to any area of social life, and in this case the family. One policy the government introduced was the welfare state. The welfare state was introduced by Attlee’s government after their election victory in 1945, in response to the Beveridge Report of 1942. Beverigde was a British economist and social reformer who were closely associated with the development of the welfare state. The welfare state was created by the labour government to end poverty and look after everyone from the ‘cradle to grave’. The main parts of the welfare state included NHS, child benefits, job seekers allowance, and pensioners for elderly, education, state housing etc. The government’s purpose was to actively intervene in...
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...Competitive Strategies and Government Policies ECO 365 Competitive Strategies and Government Policies Companies are becoming more competitive over the course of time. As the population grows so do new company’s aiming to be successful. For a construction company, this is especially true. Current businesses and new businesses want growth and the construction companies are who make the physical structure of the business happen. Included in this paper, is a discussion of how horizontal mergers, government policies and regulations related to externalities, and business decisions by management affect the construction business entirely. The construction industry has been a result of a lot of change in the past few years. The construction industry consists of small business to the very large corporation. A small business in the construction industry can be considered a simple handyman business. A large business in the construction industry can be considered a new commercial builder. With the limited barrier of entry the construction industry has been threaten by new companies entering the market. New companies entering the marking have posed a threat in which causing the existing construction companies to have a strategic plan to prevent from closing their doors. With a strategic plan in place the existing construction companies will have the tools needed to compete with newer companies entering the market. The recent events in the economy have increase globalization. Globalization...
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...M1- Analyse the implication of government policies for Tesco and the possible reactions of the business to government decisions. What actions the Tesco would take based on the policies? What the government expect the businesses to do? Possible reactions of the businesses to the government policies? What would businesses do for the changes the government makes? Economical policy Environmental policy health policy competition policy The economical policy affects Tesco’s. The possible changes the government could make are: * A rise is co-operation tax * A rise in Interest rates In order to take action Tesco’s could pass some of this tax to its customers charging higher prices for the goods/services. If interest rates start rising, this could be a downfall for the business and customers will reduce their expenditure. This depends if Tesco’s takes a loan out if it is struggling but because Tesco’s is a global organisation, they probably wouldn’t need to. If any of the problems do , the possible reaction may be that they may request the government to reduce tax/interest rates because businesses may not be able afford it and wouldn’t be doing as well as it was before. The environmental policy affects Tesco’s. Environmental concerns: * Carbon emissions * Sustainability * Complying with environmental laws Tesco’s is working on reducing emissions by 2020 and they can do this by reducing carbon footprint of their supply chain by 30%. Having sustainability...
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...Unit 1 Government and Policies UK Government 01 P1 There is three main components to the structure of the UK government, the first and most important being the central government(Parliament) this contains the House of Commons and the House of Lords, this is where all the main decisions about how the UK operates happen, the next is the devolved parliaments(e.g. The Scottish parliament and the welsh assembly) these are responsible for managing Scotland and Wales idiosyncratically, the Scottish parliament has the power to produce laws and bills without the need of the UK parliament agreeing, the Welsh on the other hand do not have such powers. Finally there are the local authorities these are made up of County councils, District Councils, Parish Councils etc these do things within certain areas or constituencies throughout the UK. The European parliament also plays a big role in the running and decision making of the UK parliament, Established in 1952, the EP is based in Brussels and Strasbourg, it has also been known to assemble in Luxembourg also, it has 751 members and is run by Martin Schulz, it influences EU laws within the UK and decides international agreements. P2 Each department of the government is important in its own rights, there are too many departments to name here but the main three that support the public services would be: The Ministry of Defence (MoD): The MoD’s main priority is implementing the defence policy set by the government and of...
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...Evaluate the impact of Government policies and laws on family life in Britain (20 marks) Social policies are the measures taken by state, or Government, bodies such as schools and welfare agencies. They are usually based on laws introduced by Government. Laws and policies can have both direct and indirect effects on the family. There are many Government policies that can either benefit of have a negative impact on the family. These come from many different movements in Government, such as: New Right, New Labour and Coalition - these can be criticised by different types of sociologists such as Marxists and Feminists, which I will be expressing throughout this essay. The New Right have a Functionalist view on the family. They believe strongly in the advocation of the nuclear family and the other family criteria that they present, such as - as presented by the sociologist George Murdock - A heterosexual couple as part of a nuclear who engage in a socially acceptable sexual relationship, economic cooperation (or being self-sufficient) and provides basic functions such as socialisation, discipline and morality. The “Child Support Agency” was enforced in 1993, and forced natural fathers to provide for their own children financially in the event of a parental split. The Government fund this agency to ensure that the child is financially supplied to ensure good health and quality of life as they grow up. The impact that this had on the family is that the biological fathers are...
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...Dr Tomasz Kaźmierczak University of Warsaw The social policy responsibilities and tasks of local government in Poland Introduction In Poland, local social policy consists primarily of welfare assistance, i.e. the domain covering a range of universal (categorical) social services and means-tested monetary benefits. An important part of Poland's social security system, welfare assistance is guided by the principles of personalized support and discretional decision-making. Unlike the old-age and disability pension system - a pillar of the country's social security framework - which remains centrally administered, welfare assistance is almost entirely devolved to local government. Local authorities are wholly responsible for the provision and - to a lesser extent - financing of statutory welfare benefits and services. In addition, non-governmental organizations have taken on an increasing role in social service delivery over recent years, although this varies greatly by area. Regardless of local disparities in the availability of non-governmental service providers, authorities are obligated to cooperate with them. By contrast, the presence of profit-oriented companies in social service provision remains fairly marginal. Poland's current institutional regime, including its social-policy model (i.e. the organizational structure and instruments, the division of roles between the state, for-profit and non-profit sectors and the relationships between the state...
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...2B: Government policies and laws include tax and benefit policies as well as legislation such as the relating to divorce and marriage. Sociologists have different views on the impact of these policies and laws on families. For example, feminists argue that social policies assume that the ideal family is a patriarchal nuclear family, and that government policies and laws therefore favour this sort of family. On the other hand, the New Right argue that the benefit system undermines traditional nuclear families by actively encouraging lone parents. Using item 2B and elsewhere, access sociological views of the impact of government policies and laws on family life. Social policy is where the government creates plans and actions to either benefit or detrimental the society. It has direct effects and indirect effects on the family. E.g. child benefits would have a direct effect on the family. Social policy, also called social execution when pertaining to executive government policy, primarily refers to guidelines, principles, legislation and activities that affect the living conditions conducive to human welfare. There are extreme policies, which have mostly been abandoned now which were the Chinas one child policy, Nazi Germany policy and abolishing the family act in Russia. Chinas one child policy was where all women in China were only allowed one child per family. This way they would get even more benefits and money. If the women had more than one baby, if the government didn’t...
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