Government Aims Word Scramble
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| Term | Definition |
| The economic aims of the government | Achieve Full Employment. Control price inflation. Achieve moderate economic growth. Boost exports. Control government finances. Broaden the tax base. Promote balanced regional development. Improve infrastructure. Improve state services. |
| Privatisation | This is the sale of a state owned company to private owners. |
| Nationalisation | The purchase of privately owned assets by the government/exchequer |
| The advantages of privatisation | Improved quality / choice of services. More competitive prices. Continuity of supply. Employment opportunities. More rewards/Incentives for innovation. Revenue from sale /reduce borrowing. Shedding of loss making companies |
| The disadvantages of privatisation | Loss of non-profit making services. Changes to working conditions. Loss of jobs. Loss of a state resource. Costs of the Sale. Foreign ownership |
| Advantages of Nationalisation | Stability to economy. Availability of credit. Rationalisation of banking services. Employment / consumer protection. Development of ethical banking practices. Continued provision of banking services to the community |
| Private Costs | Costs to the individual/company as a result of decisions they make |
| Social Costs | all the costs of production of the output of a particular good or service. We include the third party (external) costs arising from the decision |
| A chemical factory emits wastage as a by-product into nearby rivers and into the atmosphere. This is an example of.... | a social cost |
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