Please enable JavaScript.

Coggle requires JavaScript to display documents.

Mind Map week 8 (Politics that influence living standards (managing a…

- - - - Macroeconomic policy is a policy that effects not only a few people but the whole nation.
      - budgetary policy
        
        3 types of budget
        
        deficit
        
        surplus
        
        balanced
        
        The decision of revenue and government expenditure
  - - - .
        
        Trade liberlisation
        
        Wool growers were guaranteed minimum wage for their wool by the government but the policy was abandoned 20 years ago.
        
        Trade Liberalisation involves opening up markets for free trade so that countries can trade without restrictions
        
        labour market reform
        
        .
        
        labour market reform has been seen moving away from government distributions determine wages and working conditions to a system where wages and working conditions to a determined directly at the enterprise between employees and enterprise.
        
        Deregulation
        
        example - Tariffs, Subsiders, Import Quotes
        
        Deregulation is the removal of government regulation (rules) in a certain area of the economy.