How was the United States different from Europe in regard to tariffs quizlet?

How was the United States different from Europe in regard to tariffs quizlet?

How was the United States different from Europe in regard to tariffs? The U.S. wanted high tariffs and Europe wanted low tariffs to promote trade. What do laissez-faire supporters believe about tariffs?

What is the term used to describe someone who risks his/her own capital to run a business?

entrepreneurs. people who risk their capital in organizing and running a business.

Who do laissez-faire supporters believe about tariffs?

Supporters of laissez-faire generally favor free trade and oppose subsidies, believing that tariffs and subsidies drive up prices and protect inefficient com- panies.

What did laissez-faire supporters believe about the government?

Laissez-faire supporters believe that government should not interfere in the economy other than to protect property rights and maintain peace. They believe that government regulation of the economy increases costs and eventually hurts society more than it helps.

How do you decide what to do when your business is risky?

Before you decide what to do, you’ll need to work out what your risks are and which ones are most urgent: Identify – work out what risks your business could face. Analyse – find the level of the risks and which ones are most urgent. Evaluate – compare the risk against set risk criteria to decide what to do.

What are the different types of risks in business?

1 Opportunity-based risks. This type of risk comes from taking one opportunity over others. 2 Uncertainty-based risks. This type of risk is from uncertainty around unknown or unexpected events. It’s hard to predict these events and the damage they can cause. 3 Hazard-based risks

What is the importance of risk management in business?

Risk management helps you make better business decisions. It involves reducing the things that could have a negative effect on your business. For example, the reducing the risk of injury by through safety procedures. You can also look for opportunities that could have a positive impact on your business.

What is an example of risk management law?

For example, you must manage or reduce the risk of: accidents and injury by making your workplace safe under work health and safety (WHS) laws customer complaints by treating customers fairly under Australian Consumer Law damaging the environment by meeting the environmental laws that apply to you.