BU111 Lecture 7: ALL chapter 7 notes
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BU111 Full Course Notes
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Elements: laws, regulations, taxes, trade agreements or conditions, political system, political stability. Significance: protection of consumers, support/ protection and regulation of domestic businesses, making sure it sets rules and is appropriate, encourages competition and action that keeps us safe. Someone making 17k a year is going to pay a lower tax rate than someone making six figures. Sofys example succed: the government gave the auto industry companies bail outs so they can avoid bankruptcy. If gm closes its doors, its not only gm employees that are out of the job, it"s also the suppliers that lose the very big buyer and more people would lose their jobs. Carbon tax is meant to reduce carbon emissions from users. Corporations get tax breaks for investing in waste management equipment. Intellectual property rights: what: legal rights that result from intellectual activity in the industrial, scientific, literary and artistic fields.
