Page 52 - E1 Integrated Workbook STUDENT 2018
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Chapter 3
The impact of regulation on the firm
Regulation is any form of government interference and is required
to ensure the needs of stakeholders can be met and that
businesses act in the public interest.
Regulation should be
Effective – ensuring a safe and Efficient – the total benefit to the
effective product/service is nation should be greater than the
delivered, whilst not inhibiting the total cost.
function of the business.
There are also schemes of voluntary regulation, for example corporate governance
in the UK.
Illustrations and further practice
Now try TYUs 12 and 13 from Chapter 3.
Read illustration 11 from Chapter 3.
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