Please enable JavaScript.
Coggle requires JavaScript to display documents.
Legislation - Coggle Diagram
Legislation
Consumer protection
-
-
Consumer protection act
protect customer from unsafe products, manufacturers are liabale when defect causes harm
-
These man that businesses have to be careful to avoid breaking law, may cost more if new regulations
-
Competition policy
Compettiton- good for consumer, prices low and quality high, innovation encouraged, wider selection
Businesses- competition takes time, effort and money, eats into profit, firms may get together to reduce competition and make more profut
May involve collaboration, forming cartels, set up anti competitive agreements to rig up prices and markets
Power and size may drive out small businesses, force supplier to cut prices
CMA- promote comp and protect consumers, legal power to investigate cartels and dom firms, force firms to split into smaller
Employee protection
ensure employees can take maternity, holiday, contracts, pay slips, national minimum wage
firms argue there is too much regulation on labour, difficult to be competitive (UK least regulated in EU)
Gov face trade off- legislation designed to stop employees treated badly but too much can stifle employment
Min wage rising- increases costs, reduces number of staff and economic growth
Environmental protection
-
waste- laws ensure them to dispose of it correctly, waste management can cost a lot
production- produces emissions, laws require protection from these gases eg. filtration and treatment (costly)
Health and safety
-
Firms have health and safety policy and carry out risk assessment- predict possible risks and dangers and prevent them
Failure to do so, can be prosecuted