advantages and disadvantages of regulation economics

A/AS level results day countdown - 3 sleeps to go! Critics argue that the inherent lack of competition in command economies hinders innovation and keeps prices from resting at an optimal level for consumers. Therefore, difference in regulations in different countries creates opportunities for companies to exploit it. The socially efficient level of pollution is not zero. the industry in which the business operates (like dairy industry will have different regulations than the banking industry) and international regulations (for businesses involved in trade/business in more than one country). Command economy disadvantages include lack of competition and lack of efficiency. If firms get a lower price, there may be less incentive to supply the good, and the number of properties on the market declines. Cifas marker :( Because the government controls the means of production in a command economy, it determines who works where and for how much pay. Disadvantages of Business Regulations Along with advantages, there are also some drawbacks of regulations. Paper 2 The downside is that monopolies do not always last. Regulations regarding business had existed early in the history also but as time passed they have become more structured and standardized. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE A command economy is one in which a centralized government controls the means of production. The nature of competition forces private companies in a free market economy to minimize red tape and keep operating and administrative costs to a minimum. Created by: T.Smith; Created on: 05-01-13 22:28; Government Regulation . Capitalism is an economic system whereby monetary goods are owned by individuals or companies. A/AS level results day countdown - 3 sleeps to go! List of Year 12 Opportunities / Things to do Due to this government tend to make regulations regarding minimum wealth, health and safety conditions.Regulations also help in preventing exploitation of consumers. (Porket, 2003)Moreover, regulations are also important in protecting the rights of the employees as without regulations, employers may exploit the employees through bad working conditions or low wages etc. Here, private individuals are unrestrained in determining where to invest, what to produce, and at which prices to exchange goods and services. Although those who favor government control criticize private firms that esteem profit above all else, it is undeniable that profit is a motivator and drives innovation. URGENT HELP!!

is the weak force responsible for keeping the quarks together? There are benefits and drawbacks to command economy structures. A-levels and stress (Porket, 2003)Another disadvantage of particularly government regulations is that some industries tend to have more lobbying power than other and they may force the government to impose regulations which are in their favor. Economic inequality refers to the disparities in income and wealth among individuals in a society. Economics A-level without GCSE? Since the global economy, depend on the US economy, the crisis in the United States eventually spread across the globe (Delaney Web; “Financial crisis shows bank regulation is broken” Web). At least partly for this reason, many advancements in medicine and technology have come from countries with free market economies, such as the United States and Japan.