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Irish Economy, Negative Impact - Coggle Diagram
Irish Economy
Economic Variables
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Taxation: VAT, PRSI, PAYE Corporation tax.
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Inflation: is the increase in prices from one period to the next.It is measured by the Consumer Price Index.
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Impact of Business
Positive Impact
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Increased competition, improved quality, lower prices
Increased tax receipts, lower social welfare costs
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Government Regulation in Business & the economy; through legislation eg, Employment Equality act, setting minimum wage, Unfair Dismissals Act, Industrial Relations act, Sale of Goods and Supply of Service act etc.(any law) Can also impact the economy through taxation.
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