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External environment - Government policy
Theories
In this section, we look at theories relating to fiscal policy, monetary policy and supply-side policy. These policies are used extensively by government to try to achieve their aims and objectives, but they need to be used carefully to ensure the right outcome.
Choose the theory you would like to look at below:
- Types of taxation - what are all the different types of taxation that the government impose and why do we need so many?
- Impact of taxation - taxes have differing effects on people according to the income they earn. What are these effects?
- Effects of interest rates - monetary policy is the key short to medium-term tool of economic management, but what impact do changes in interest rates have on businesses?
- Surplus or deficit - do we care? - we often hear about the budget surplus or deficit. What is it and why is it important?
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