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19 Cards in this Set
- Front
- Back
Collaborative Partnership
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situations where government and business work close together to seek mutually beneficial goals
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Working at Arms Length
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situations where governments goals are at odds with business goals, result in adversarial relationship
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Legitimacy Issue
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business may encounter situations where governments legitimacy is questioned
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Public Policy
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is a plan of action undertaken by government officials to achieve some broad purpose affecting a substantial segment of a nations citizens
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Aspects of Public Policy(4)
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Inputs:external pressures affecting public policy
Goals:can be broad, narrow, selfserving Tools: combination of incentives and penalties Effects:outcomes arising from government regulations |
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2 main types of pubic policy
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economic and social
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Monetary Policy
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is an economic policy
refers to policies that affect the supply, demand and value of a nations currency |
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Assistance Policies
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affect particular stakeholders, advance the wellbeing of people
social public policy |
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Regulation
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a primary way of accomplishing public policy
rules of conduct for citizens |
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Market Failure
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marketplace fails to adjust fro the true costs of a firms behavior
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Negative Externalities
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spillover effects, result when the manufacture or distribution of a product gives rise to unplanned or unintended costs borne by consumers, competitors, neighboring communities or other stakeholders
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Natural Monopolies
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once it becomes inefficient for more than one large company to exist in that market, that company can raise prices as high as it wants, like phone lines
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Economic Regulations
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aim to modify the normal operation of the free market and the forces of supply and demand
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Antitrust Laws
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prohibit unfair, anticompetitive practices by businesses
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Predatory Pricing
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the practice of selling below cost to drive rivals out of business
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Social Regulations
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aimed at such important social goals as protecting consumers and the environment and providing workers with safe and healthy working conditions
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Cost Benefit Analysis
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helps the public understand what is at stake when new regulation is sought
compares costs and benefits of potential regulation |
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Deregulation
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is the removal or scaling down of regulatory authority and regulatory activities of government
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Reregulation
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is the increase or expansion of government regulation, especially in areas where regulatory activities had previously been reduced
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