Market-Based & Interventionist Policies (HL IB Economics)
Revision Note
Market-Based Policies
Market-based strategies create the conditions for private individuals & firms to pursue an economic activity with the aim of maximising output and profit
Market-based Strategies to Generate Economic Growth & Development
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Trade liberalisation |
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Privatisation |
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Deregulation |
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Interventionist Policies
Interventionist strategies are put in place by governments to correct the failings of the free market and promote the welfare/development of its citizens
Interventionist strategies aim to increase human capital, productivity and output
Interventionist Strategies to Generate Economic Growth & Development
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Tax policies |
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Transfer payments |
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Minimum wages |
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