Impact of Government Policy

• What does PESTLE stand for in business analysis?

  Political, Economic, Social, Technological, Legal, Environmental
• What is the focus of government policy on Enterprise?

  Promoting entrepreneurship and risk-taking
• How might the government promote entrepreneurship in schools?

  By integrating entrepreneurship into the curriculum
• What is the purpose of limited liability in business?

  To protect personal assets of business owners
• How does promoting Enterprise lead to increased tax revenue for the government?

  More profits from businesses lead to higher taxes
• What are potential outcomes of successful government policies on Enterprise?

  More job opportunities and increased competition
• What is the role of regulators in government policy?

  To oversee market behavior and ensure fairness
• What is the CMA's role in market regulation?

  To prevent collusion and abusive market behavior
• How do industry-specific regulators differ from the CMA?

  They focus on specific sectors like water or energy
• What might be a successful outcome of effective regulation?

  Lower prices and higher quality in markets
• What types of infrastructure are important for business support?

  Roads, rail, seaports, airports, communications
• How does successful infrastructure impact productivity?

  It leads to increased productivity and investment
• What is the purpose of the Environmental Act 2021?

  To combat climate crisis and improve quality
• How might businesses need to adapt due to the Environmental Act 2021?

  By complying with new environmental regulations
• What is a consequence of Brexit on international trade?

  No free trade access with the EU
• What opportunity might Brexit provide for UK businesses?

  Negotiating with emerging economies independently
• What are the key components of government policy regarding Enterprise?

  • Promotion of entrepreneurship
  • Support for small businesses
  • Introduction of limited liability laws
  • Risk-taking encouragement through education
• What are the effects of effective regulation on markets?

  • Lower prices for consumers
  • Higher quality of goods and services
  • More contestable markets
  • Reduced barriers to entry for new firms
• What are the expected outcomes of successful infrastructure projects?

  • Increased productivity
  • Additional investment in the economy
  • Job creation during construction
  • Improved business operations
• What are the goals of the Environmental Act 2021?

  • Combat climate crisis
  • Improve air and water quality
  • Promote recycling initiatives
  • Ban illegal imports of certain products
• How does Brexit affect the UK's international trade strategy?

  • Loss of free trade access with the EU
  • Opportunity to negotiate with emerging economies
  • Shift from collective to individual trade agreements
  • Potential challenges in securing imports