August 21, 2019

What are the economic roles of a government?

Regulatory role Covers a broad spectrum – entry to the business to the final result of business The reservation of industries to small scale, public and cooperative sectors.  Licensing system Regulation of entry Regulation of product mix, promotional activities etc.  Regulate relationship between organizations.  Promotional role Building infrastructure – power, transport etc.  Financial support Institutions […]

Business, Society and Government – a comparison of their objectives

Business Society Government Reduce costs To have enough to eat and drink Manage resources fairly and cost effectively Increase sales Shelter from the environment and threats Support the population Maximise profit Education and healthcare Provide a regulation framework Improved lifestyle Self development