Solutions to barriers of econ development
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8 Terms
Social Enterprise
Business for social good
Pro: Empowers locals. Con: Hard to scale.
NGOs
Private aid groups
Pro: Immediate relief. Con: Dependent on donations.
Deregulation
Reducing gov rules
Pro: More competition/lower prices. Con: Risk of worker exploitation.
Privatization
Gov selling services to firms
Pro: Better efficiency. Con: Prices may rise for the poor.
Progressive Taxation
Higher earners pay more
Pro: Funds public services. Con: May reduce work incentive.
Transfer Payments
Cash to the poor
Pro: Direct safety net. Con: High gov cost.
Infrastructure Investment
Building roads/power.
Pro: Lowers trade costs. Con: High debt/pollution.
Minimum Wage Increase
Legal price floor for pay
Pro: Protects workers. Con: Can lead to fewer jobs.
Note 
Flashcards (73)