Government’s influence and Civil Society’s Influence - nov 18

Government’s influence and Civil Society’s Influence - nov 18

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Unformatted text preview: Government’s influence and Civil Society’s Influence Government’s Influence on Business-Regulation – imposition of constraints, backed by the authority of government, intended to modify economic behaviour in the private sector significantly Regulation-Protect and advance public interest-Promote a fair and competitive market economy-Make decisions based on the best available knowledge-Create regulation that is accessible, understandable, and responsive-Advance the efficiency and effectiveness of regulation-Require timelines and minimal duplication Types of Regulation:-Economic (to correct market imperfections)-Social (to correct the adverse affects of business on people)-Political (to garner votes) Economic Regulation The national monopoly-Exists when one firm can supply the entire market demand at a lower cost than two or more firms-Government would regulate such a market to ensure output was not deliberately restricted to bolster prices Externalities- By-products of activities that affect the well-being of society not included in the market price...
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Government’s influence and Civil Society’s Influence - nov 18

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