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Unformatted text preview: • Government – Business law relating to levels of government, eg local (health, zoning), state (fair trading), federal (taxation), international (trade agreements) – Regulatory bodies such as Environment Protection Authority, Department of Fair Trading, Australian Securities and Investment Commission, Australian Competition and Consumer Commission Government and the Business Environment . Read pages 105 - 111 and answer the questions below. 1. List ways the Government can influence the business environment. (identify at least 5 ways)] • Economic environment • Legal environment • Financial environment • Education policies • Assistance packages and specific programs 2. Why does the Government need to smooth out the economic cycle? The ups and downs of the economic cycle cause significant disruption to the economy and to the growth plans of business 3. Explain the two main policies used by the Commonwealth Government. Monetary policy : government actions, involving the supply of money, that influence economic activity in Australia. Through reserve bank also looks at interest rates. Fiscal policy: government actions, often involving the use of taxes that influence economic activity in Australia. 4. What does the term microeconomic reform mean? Microeconomic reform: government actions that influence business and consumer behaviours in Australia. These policies are aimed at making industries more efficient 5. Explain the major focus of government policies over the past decades. Restrictive rules on industries such as airlines, telecommunications and banking have been abandoned; major government-owned businesses such as the commonwealth bank, half of Telstra, and Qantas have been sold odd to the private sector. Australia has also become far more open to goods from the rest of the world, with most trade barriers in Australia abolished. 6. How has microeconomic reform changed the competitive business environment?...
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This note was uploaded on 08/11/2009 for the course BUSINESS - taught by Professor - during the Summer '09 term at École Normale Supérieure.
- Summer '09
- Business Law