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Chapter 4 (Imposing 'windfall ' taxes (These are taxes on profits…
Chapter 4
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International Trade
The UK government is a keen supporter of international trade recognising that it brings many benefits to the UK, not least revenue and employment. It operates a number of initiatives to support businesses in selling goods and services in international markets. Many of these offered through UK trade and investment, a government department that woks with UK businesses to help them to succeed in international markets
This Acts prohibits cartels and abuses of dominant market position. It also outlaws concerted practice, for example when businesses agree to divide up a market and not to compete in each others part of the market
- The environmental Protection Act, 1991
This introduced the notion of integrated pollution control recognising that to control only a single source of pollution is worthless as damage one part of the environment means damage to it all. This act requires businesses to minimise pollution as a whole
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Regulation is the enforcement of principles or rules that result from the passing of a law or series of laws
Financial services are any products which are finance in nature and include those supplied by banks, insurance companies and financial advisors
Privatisation is the process of transferring organisation from state ownership to that of the private sector
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Infrastructure refers to the physical and organisational structure required to allow both society and an economy to operate effectively, e.g. transport and communication networks
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A merger is the joining together of two businesses to form a new, larger enterprise