The answers for p4 business

P4: outline the role of government in creating the business climate.

European government: they construct a set of indicators to measure the policy-making role of the European Union in a selected number of policy domains.

National government: The act or process of governing, especially the control and administration of public policy in a political unit

Local government: the Local Government looks after local roads and services parks. Local trader's looks after building approvals health and standards for the people in the counties.

Economic growth: The simplest definition of economic growth is an increase in real gross domestic product the growth rate is a lot and the percentage change from one year to the next. We can express the rate of growth in, for example, the period 2004-2005.

Full employment: This would imply that unemployment is zero because if you are not willing to work then you should not be counted as unemployed. To be classified as unemployed you would need to be actively seeking work. This does not mean everyone of working age is in employment. Some adults may leave the labor force, for example, women looking after children.

Low inflation: A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services.

Surplus on the balance of payment: A systematic record of a nation's total payments to foreign countries, including the price of imports and the outflow of capital and gold, along with the total receipts from abroad, including the price of exports and the inflow of capital and gold.

Competitiveness: Ability of a firm or a nation to offer products and services that meet the quality standards of the local and world markets at prices that are competitive and provide adequate returns on the resources employed or consumed in producing them.

Equality: The condition or quality of being equal; agreement in quantity or degree as compared; likeness in bulk, value, rank, properties, etc.; as, the equality of two bodies in length or thickness; an equality of rights.