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The important of price elasticity of demand in formulation of government policies?
Priceelasticity of demand for a taxed product plays key role in determining the impact of tax increase on government revenue. The more inelastic the demand for the product, the smaller the impact of any given lump-sum tax on the quantity of the product purchased, therefore the greater the government tax-take. (tax-take = tax per unit x quantity purchased)
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What are the benefits of elasticity to government?
How can government benefit from the elasticity concepts? Analyse the various economic policies which will benefit from the concept.
Who usually implements government policies?
government agencies
What are policies primarily based on?
Policies are developed on the basis of specific needs identified by gathering information. Their formulation requires drafting, consulting and review.
What are the components of policy formulation?
The components of policy formulation include problem identification, where specific issues are recognized; agenda setting, which involves prioritizing issues for government attention; policy analysis, where various alternatives are evaluated for their potential effectiveness and feasibility; and stakeholder engagement, ensuring that relevant parties contribute their perspectives and needs. Additionally, the formulation process often includes drafting proposed policies and assessing their potential impacts before implementation.
Describe the roles of government bodies the determine national fiscal policies?
Describe the roles of government bodies that determine national fiscal policies
What are the benefits of elasticity to government?
How can government benefit from the elasticity concepts? Analyse the various economic policies which will benefit from the concept.
What are the significance of elasticity to the government?
The government policies and procedures are often very rigid and there is no scope to change plans as the situation or the time demands.The government is accountable to the people for its action and elasticity will give the government better adjustments and governance.Controlled elasticity is better than free elasticity to the government.
Which stage of policy making includes promises to the public about new policies?
formulation
A stage of policy making includes promises to the public about new policies?
Formulation
How do explain the necessity of political parties Just two reasons?
The necessity of political parties include; 1. They bring various representatives together so that a responsible government could be formed. 2. They support or restrain the government in the formulation of policies.
Policies are primarily based on .?
Policies are developed on the basis of specific needs identified by gathering information. Their formulation requires drafting, consulting and review.
Who usually implements government policies?
government agencies
What is Heng Swee Keat Responsibility?
His responsibility is to direct the formulation and implementation of education policies. Secondly, he has to control the development and administration of the Government-aided primary schools, secondary schools, junior colleges and a centralised institute. :)
What phase of the budget and execution process includes developing policies objective and budget estimates?
formulation
Which occupational cluster has the task of formulation and implementing institutional goals and policies?
Business and Financial Operations
What phase the budget and execution process includes developing policies objectives and budget estimates?
formulation
What phase of the budget and execution process included developing policies objectives and budget estimates?
formulation
