1. What is a nationalized industry and how does it differ from a business in private ownership? What is meant by "State-owned businesses/corporations?" What are the arguments for privatization of state-owned businesses? 2. Explain two regulatory practices set up in Jamaica for the establishment of businesses. 3. Caribbean governments operate within two broad structures: Central government and Local government. Name SIX government ministries existing in Jamaica and state the elected representative (politician) in charge of each.

1. What is a nationalized industry and how does it differ from a business in private ownership? What is meant by "State-owned businesses/corporations?" What are the arguments for privatization of state-owned businesses? 2. Explain two regulatory practices set up in Jamaica for the establishment of businesses. 3. Caribbean governments operate within two broad structures: Central government and Local government. Name SIX government ministries existing in Jamaica and state the elected representative (politician) in charge of each.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter16: Public Goods And Public Choice

Section: Chapter Questions

Problem 4.9P

See similar textbooks

Similar questions

1. What is a nationalized industry and how does it differ from a business in private ownership? What is meant by "State-owned businesses/corporations?" What are the arguments for privatization of state-owned businesses? 2. Explain two regulatory practices set up in Jamaica for the establishment of businesses.
What are the three major legal forms of business enterprises? Which form is the most prevalent in terms of numbers? Which form is dominant in terms of total sales revenues?
There were lots of similarities between Britain's system of government and that of the individual British colonies in North America. One difference, though, was that a far larger proportion of male residents experienced direct representation in theirlegislatures, rather than the "virtual representation" that most Britons experienced inEngland and Scotland. Why? 1.Because elections for office in the colonial legislatures were done by secretballot. 2.Because ownership of enough property to meet the property requirements forvoting was more common in the colonies than it was in Britain. 3.Because the colonists thought slavery, in both the political sense and actualslavery, was more wrong than did their British counterparts. 4.Because only enslaved people were prevented from having voting rights in the colonies.
K Governments and the Public Sector Quick Check What is a public franchise? A public franchise is a company owned by the public in which all profits are distributed to the public. A public franchise is any company that offers free goods or services. A public franchise is a company created by a government to offer a service. A public franchise is a company that was taken over by the government so that its services could be offered for free. 13
16. Why do governments grant patents and copyrights for some goods? What determines how long governments ideally should let them last? Explain your logic.
Match each term with the correct definition.private propertyfreedom of enterprisemutually agreeablefreedom of choiceself-interestcompetitionmarketa. An institution that brings buyers and sellers together.b. The right of private persons and firms to obtain, control, employ, dispose of, and bequeath land, capital, and other property.c. The presence in a market of independent buyers and sellers who compete with one another and who are free to enter and exit the market as they each see fit.d. The freedom of firms to obtain economic resources, decide what products to produce with those resources, and sell those products in markets of their choice.e. What each individual or firm believes is best for itself and seeks to obtain.f. Economic transactions willingly undertaken by both the buyer and the seller because each feels that the transaction will make him or her better off.g. The freedom of resource owners to dispose of their resources as they think best; of workers to enter any line of…
1. What are some of the ways in which capital evercises influence over the State? (List 3-4 ways) 2. How does market power or monopoly subvert the coordinating function of market prices? 3. What is the tragedy of the commons? Give an example 4. What are some counter tendencies that prevent a straightforward fa rate of profit? (List and briefly describe 2-3 counter tendencies)
7. To encourage research and development, the US has a very strong patent protection system that blocks duplication of patented technology for profit. Which example best illustrates positive spillovers from technology creation? a. Black market sales of generic Zyrtec, a patented allergy treatment. b. Specialized mechanic shops emerging that service only newer generation electrical cars. c. Wastewater disposal pollution near fracking sites, a new technology for oil and gas extraction. d. All of the above
16. Which of the following types of political culture stresses the importance of the individual and private initiative? a. Individualistic b. Traditionalistic c. Moralistic d. Socialistic e. Civic
KA. Loans made to students by the U.S. Department of Education are referred to as: a. direct student loans. b. deferred student loans. c. subsidized student loans. d. guaranteed student loans Recent evidence indicates that states: a. have taken a much more aggressive role in limiting the ability of local governments to enact regulations. b. have taken a less aggressive approach to how local governments enact regulation. c. have taken away local governments' ability to enact regulation. d. have appointed individuals to city councils.
1.Do you believe Amazon is taking unfair advantage of the tax system? 2.If tax laws are changed so that companies are no longer allowed to reduce their tax debt by deducting expenses for investment into research and development, do you think companies will reduce spending on innovation? Why or why not? 3.How can communities attract business investment without giving away their tax revenue? 4.Globalization has made it more difficult for national governments to tax : orporate income effectively because it is difficult to establish where the income was earned. Companies like Amazon exploit this to shift their tax burdens to countries with lower rates, effectively depriving some countries of revenue they deserve and need and sending money to countries that do not bear the cost of supporting the company's operations. Should countries compete for corporate tax revenue by offering lower rates than their neighbors?
Identify some rules or laws that govern social responsibility in business. Also what is the importance of those norms or laws to avoid corporate crimes.And it also identifies and explains a type of corporate crime.