Presentation on theme: "Business Markets and the Economy"— Presentation transcript:
1 Business Markets and the Economy Andrew Wheeler2014
2 Government Policy & Local Business Markets Your Local Enterprise Partnership has asked you to produce a report to help board members of the LEP better understand how government policy and LEP policy can influence business markets.
3 Your report needs to answer the following questions: How does government influence the economy and business activity? (P4) How can the LEP influence local business markets? (P4) How are particular sectors regulated? (P6) For our LEP (New Anglia), please explain regulatory implications for the following sectors:EnergyFarmingAlcoholFood Production (P6/ M3)
4 Later on…. Why are these markets regulated more than others? (M3) Should the LEP be concerned about Europe? (P7)How do EU decisions affect businesses? (D2)What are the implications for the LEP?Finally, please provide an evaluation of the effectiveness of regulatory regimes in one of the key New Anglia sectors.
5 Grading CriteriaP4 describe the role of the government in influencing the economy and business activityP6 describe how businessmarkets are regulated in the UK
6 Grading TipsTo achieve P4 you need to describe the range of government policies that exist and influence business markets. Emphasis should be placed on local business markets and those policies which most impact on local business markets.
7 Grading TipsTo achieve P6 you need to consider how governments intervene in markets to regulate them. Intervention can be through taxes and subsidies which are designed to distort the market to achieve specific objectives.
8 BTEC Unit Content Understand how markets are regulated in the UK economy Role of government:Competition CommissionPrivatisationMarket failurePrivate Finance InitiativeJustification for interventiongovernment policies:Market regulationsubsidiesDeregulationtaxationUnfair competitionCompetition policy
9 Later… (P7)International factors: European Union; the single market (free trade, harmonisation, capital, labour, technical standards, simplified trading); monetary union; social chapter.
10 How does government influence the economy and business activity? (P4) TaxesCompetitionsInterest RatesSector specific interventionsSubsidiesGrantsRegional IncentivesExport MissionsRegulationsPromoting TourismTraining SchemesMinimum WagesEnterprize Zones
11 New Anglia Local Enterprise Partnership How can the LEP influence local business markets? (P4)To find out more go to