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hello students and young chartered accountants. After a quite a long time, I am making thee video. The first point of discussion is that if you really want to gain the knowledge of goods and services tax then you must have good hold on VAT (Value Added Tax) and CEVNVAT (Central value Added Tax).

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Q3 Redistrabution of income: the transfer of income and wealth from individuals with financially stable to individuals who are struggling finacualy through taxation.

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Regulation of business enterprise refers to the government keeping the market competive

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A defunct Australian college accused of targeting disadvantaged students with false promises of debt-free courses and free computers will be pursued by the consumer watchdog, following a federal court order.
The Australian Competition and Consumer Commission has won leave to pursue the Phoenix Institute of Australia, which was placed in voluntary administration in March this year, for declarations, penalties and refund orders.

"If the allegations made by the ACCC are established, the respondents sought to procure a very substantial sum of up to $360 million from public revenue through misleading, deceptive and unconscionable conduct," Justice Melissa Perry said.

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Australian Competition and Consumer Commission

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A defunct Australian college accused of targeting disadvantaged students with false promises of debt-free courses and free computers will be pursued by the consumer watchdog, following a federal court order. The Australian Competition and Consumer Commission has won leave to pursue the Phoenix Institute of Australia, which was placed in voluntary administration in March this year, for declarations, penalties and refund orders.

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Q1
Provision of public goods
Macroeconomic management
Redistribution of income
Regulation of business enterprise

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3) Macroeconmic management is the development and the use of policy measures to reduce the fluctuations

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Total domestic revenue (Tax and Nontax revenues); revenues include all non-repayable receipts except grants. Tax collection is performed by RRA. The macroeconomic Unit assesses revenue developments and performance by focusing on revenues as proportion of GDP in light of revenues to GDP ratios in comparable economies and set targets.

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Question 3
The government tries to redistribute income by using tax to collect government revenue and then uses welfare payments to reditribute income.

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What is the best way to redistribute income? by H.C. | WASHINGTON DC

ECONOMISTS have two contradictory impulses when analysing policy. The first is to ignore its effects on the distribution of income or wealth, and argue that policymakers should shoot for efficiency and worry about redistribution later. This instinct often surfaces in discussion of policies like carbon taxes. These increase efficiency by raising the price of pollution, a harmful activity that, without intervention, comes too cheap for the polluter. But carbon taxes tend to hit poorer people, who spend a higher fraction of their income on fuel, the hardest. We should introduce the tax anyway, economists say, and re-distribute by other means.

This first impulse is loosely based on the "fundamental welfare theorems", which say that whatever the initial distribution of wealth, trade will lead to an efficient outcome. The best way to redistribute is not to interfere with trade, but to divvy up "endowments"-peoples' initial wealth. On this view, inequality can be dealt with in isolation, after figuring out how best to lubricate markets.

The second, opposing impulse, which is on display in many DC think-tanks, is to examine forensically the distributional consequences of every policy in isolation. This is becoming more common, partly because computing advances have made simulation models, which estimate how much a proposal will change the income of each social group, easier to run. As a result, few policy analyses omit to mention the "distributional benefits" or "distributional costs" of whatever is being proposed. In Britain, new policies come with an "equality impact assessment" which scrutinise their impact on specific groups.

A good example is student debt. Many young Americans feel it is an acutely stressful burden, which holds back their ability to save to, say, buy a house. Yet when politicians like Hillary Clinton propose measures to reduce student debt, economists are quick to point out that doing so would not, on the whole, help the poor. Graduates earn more than the population at large; those with the most student debt tend to be law-school graduates with lucrative careers ahead of them. Similarly, economists love to point out that higher minimum-wages do not benefit the poorest households most, because they relate to hourly pay rather than overall household income. Such polices are, economists say, "poorly targeted".

Which impulse is preferable? The first seems wrong-headed, because it is not possible in reality to redistribute endowments. Inequality often results from trade over time-some people do well in the market, others less well-and, as a result, redistribution must be an ongoing project. When pressed on their preferred measure of redistribution, economists will often cite policies like the earned-income tax-credit, which tops-up the wages of poor workers. Yet this does not look at all like the efficient, lump-sum redistribution of economic models. Because it gets less generous as income rises, the EITC discourages low-income workers from earning more (marginal tax rates for low earners, accounting for benefit-withdrawal, can exceed 80%). The scheme is wasteful: the IRS estimates that 24% of EITC payments are improper. And other workers must pay taxes to fund EITC payments. Those higher tax rates distort the economy, too.

The second instinct, though, does not seem much better. Take student-debt again. When the British government raised tuition fees in 2010, it was so keen to make its reforms "progressive" that it introduced a complex system whereby higher-earners pay higher interest-rates. Yet it seems bizarre to redistribute within one group-graduates-rather than in society more broadly. There is no convincing reason for making high-earning graduates, as opposed to high-earners in general, subsidise education.

Furthermore, policy sometimes rightly helps higher-income folk. One example is childcare. At a conference on tax policy I attended last year, one participant pointed out that the child tax-credit, which provides money to parents with incomes up to about $95,000, does not have the "distributional advantages" of the EITC. But presumably there is value to society in helping more than just the poorest parents and children. Similarly, policies to subsidise child-care-often supported by the left-help all single-earner households become multiple-earner households, including those where the single-earner already has a high income. That is no bad thing if it helps achieve other goals, such as increasing female participation in the workforce.

The lesson is that policymaking must be holistic; proposals cannot be judged fully in isolation. Sometimes, regressive policies and universal benefits are welcome, even if an unequal income distribution is not. At the same time, it is unrealistic to expect all corrective redistribution to happen through one idealised channel like the EITC, because concentrating redistributive firepower in one area can cause collateral damage to incentives. As usual, economists will do best if they cast their most unworldly assumptions-of whatever variety-aside.

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What is the best way to redistribute income?

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What is the best way to redistribute income? by H.C. | WASHINGTON DC ECONOMISTS have two contradictory impulses when analysing policy. The first is to ignore its effects on the distribution of income or wealth, and argue that policymakers should shoot for efficiency and worry about redistribution later.

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Question 2
Regulation of business activity is a feature of all developed economies. Regulation is an important and effective mechanism to achieve economic, environmental and social goals.
All in all it regulates the economy and markets.

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Question 1
-The provision of public goods and services
-The redistribution of income
-The regulation of business enterprises
-Macroeconomic management

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Regulation of business enterprises is when the government regulates goods and services of companies so it doesn't become a monopoly.

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Bloomberg -RRB- Terms of Service Trademarks Privacy Policy

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LoginBloomberg Terminal Demo Request Connecting

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The Fine Line Between Business, Government Regulation

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Peter Tague, co-head of global M&A at Citigroup, and David Malpass, president at Encima Global, discuss business in relation to government regulation. They speak on "Bloomberg Surveillance." (Source: Bloomberg)

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Environmental protection is a large concern in the government's regulation of businesses.

factory image by Zbigniew Nowak from Fotolia.com

The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in this business-driven society. Some of these regulations stand out more significantly than the others because of their relevance to every U.S. employee and consumer.

Advertising

Laws pertaining to marketing and advertising set in motion by the Federal Trade Commission exist to protect consumers and keep companies honest about their products, according to Business.gov. Every business in the country is required to comply with the truth-in-advertising laws and could face lawsuits for violation.

Truth-in-advertising laws are made up of dozens of tidbits under three main requirements: advertising in the United States must be truthful and non-misleading; businesses need to be able to back up claims made in advertisements at any time; and advertisements must be fair to competitors and consumers. Additionally, in compliance with the Fair Packaging and Labeling Act of 1966, all product labels must include information about the product, such as nutrition, size, and distribution and manufacturing information.

Employment and Labor

Among the ever-changing regulations in business are employment laws. These laws pertain to minimum wages, benefits, safety and health compliance, work for non-U.S. citizens, working conditions, equal opportunity employment, and privacy regulations--and cover the largest area of subjects of all the business regulations. Several employment regulations stand out as the heavy hitters among the others.

The 1938 Fair Labor Standards Act, applied by the Wage and Hour Division, is still in effect today and was last updated in 2017. It covers setting the national minimum wage, overtime, record keeping and child labor laws that cover employees in the private sector as well as federal, state and local governments.

The Employee Retirement Income Security Act ensures that employees receive the retirement plan options and health care benefits to which they are entitled as full-time employees. There are also several required benefits, including unemployment insurance, Workers' Compensation Insurance and employee Social Security assistance.

The Immigration and Nationality Act ensures that only U.S. citizens and individuals with work visas can be hired, and every business must keep on file I-9 eligibility forms for applicable employees.

Environmental Impact

The carbon footprint and the effect of businesses on the environment is regulated by the Environmental Protection Agency alongside state agencies. The EPA enforces environmental laws passed by the federal government through educational resources, frequent inspections and local agency accountability.

The Environmental Compliance Assistance Guide exists to help businesses--small and large alike--achieve environmental compliance, and serves as an educational resource more than an enforcer.

Privacy Protection

Sensitive information is usually collected from employees and customers during hiring and business transactions, and privacy laws prevent businesses from disclosing this information freely. Information collected can include social security number, address, name, health conditions, credit card and bank numbers and personal history. Not only do various laws exist to keep businesses from spreading this information, but people can sue companies for disclosing sensitive information.

The Federal Trade Commission monitors business practices and charges or fines companies that violate the privacy promises they made to consumers. For example, when a company promises not to use their information in ways other than what is stated, or shares their private information without consent, or monitors customers' online, mobile and/or television habits without informing them in advance, the FTC charges them publicly with such offenses, levies hefty fines and forces the business to change their unethical practices.

Safety and Health

The Safety and Health Act of 1970 ensures that employers provide safe and sanitary work environments through frequent inspections and a grading scale. A company must meet specific standards in order to stay in business. This regulation has changed frequently throughout the years alongside the changing sanitary and workplace standards.

In accordance with the 1970 act, employers must provide hazard-free workplaces, avoiding employee physical harm and death, through a number of procedures.

Three organizations oversee workplace health and safety:

Occupational Safety and Health Administration (OSHA)

Mine Safety and Health Administration (MSHA)

Wage and Hour Division (rules for employee children under age 18)

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Five Areas of Government Regulation of Business

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The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in this business-driven society. Some of these regulations stand out more significantly than the others because of their relevance to ...

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From a federal to local level, the government provides free public services, such as roads and parks, as a basic service for the general public.

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Part of Springer Science + Business Media Privacy Policy

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LinkedIn The Provision of Goods and Services

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The Provision of Goods and Services by the Public Sector - Springer

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The government provides goods and services instead of, or in addition to, the market. Community goods, e.g. defence, street lighting, flood control, because: they are not divisible according to individual preferences; there is non-excludability for 'free-riders'. Collective goods which, although indivisible, can exclude 'free-riders' by fees or tolls, e.g.

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Full presidential debate here :
#hailtrump

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The Third Presidential Debate: Hillary Clinton And Donald Trump (Full Debate) | NBC News

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Provision of goods and services refers to the free market providing private goods to consumers willing to pay

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MTAA Guidelines on Access to Service Stations

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Aboriginal and Torres Strait Islander Social Justice Aboriginal and Torres Strait Islander Social Justice Disability Discrimination Commissioner National Consultations Section

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DDA Provision of goods and services | Australian Human Rights Commission

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Section 24 of the DDA provides that it is unlawful for a person who provides goods or services, or makes facilities available, to discriminate against another person on the ground of the other person's disability or a disability of any of that other person's associates:

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Regulation of business enterprises - Governments regulate business enterprices to achieve economic environmental and social goals in the economy, such as schools and local health centres

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Why Can't Chuck Get His Business Off the Ground?

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http://iam.ij.org/9uFUX3 How can Americans create private sector jobs? The solution to America's jobs problem lies not with budget-busting federally mandated "stimulus" programs. Instead, what is needed are specific reforms that wouldn't cost taxpayers, would create a broader tax base for cash-strapped cities and states, and would provide opportunity for millions of Americans who worry where their next paycheck is coming from.

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Macroeconomic management
The government manages macroeconomic activity by using a number of means, including taxes, subsidies, price floors and ceilings.

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This flipped lesson gives you an overview of macroeconomic policy and the economic indicators that are used to predict the future level of economic growth and the phase of the business cycle. The government uses economic data and predictions of expected economic activity to manage the economy using fiscal and monetary policies.

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Question 4 -
Regulation of business enterprises is when the government uses things like the ACCC to keep businesses running and make sure there isn't a monopoly or anything illegal going on

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Alabama Best Computer Security Colleges List of Top Schools

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Essential Training & Tutorials DSST Human Resource Management

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Corporate Social Responsibility & Citizenship Go

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Federal RegisterNext Lesson Quiz & Worksheet

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Understanding Employee Behavior & Motivation How Internal

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Cell Membrane Location & Characteristics Quiz & Worksheet

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Future of Business Human Resources Management Degrees

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Occupational Safety and Health Administration

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Impressionism Comparing Renaissance & Baroque Use of Light & Plane Visual Design & Display

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Government & Society Major U.S. Federal Regulatory Agencies

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Study Guide & Test Prep Quiz & Worksheet

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Disadvantages & Examples Complementary Goods

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Political Science DSST Health & Human Development

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Role & Impact on Business Advantages and Disadvantages of Trade Protectionism How Currency Changes Affect Imports

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Formula , Analysis & Example Types of Competitive Advantage

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Corporate Social Responsibility & Citizenship Technical Writing

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Demo for Workforce College Accelerator Using Graphic Organizers for Reading Comprehension Quiz & Worksheet

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Advisory Panels & Committees 4:34 Business Strategies for Influencing Congress & Regulatory Agencies

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Definition & Examples Currency Appreciation

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The Cost and Benefits of Regulation in Business - Video & Lesson Transcript | Study.com

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Regulation is often seen as a negative by most American businesses. In this lesson, you will learn both the costs and benefits of regulation in the...

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4) With reference to the provision of goods and services, the government allows for goods and services to be delivered to its citizens. (When private goods and services are made available to the public).

This is explained in the video attached:

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Production Distribution and Consumption of Goods and Services Needs

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Production of Goods and Services People Value

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Unit4 Video4 Production of goods and services vs Provision of the same 1

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Question three:
Purpose of provision of public goods and services is to make them available for everyone in the economy.

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MTAA Guidelines on Access to Service Stations

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Aboriginal and Torres Strait Islander Social Justice Aboriginal and Torres Strait Islander Social Justice Disability Discrimination Commissioner National Consultations Section

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DDA Provision of goods and services | Australian Human Rights Commission

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Section 24 of the DDA provides that it is unlawful for a person who provides goods or services, or makes facilities available, to discriminate against another person on the ground of the other person's disability or a disability of any of that other person's associates:

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3. Redistribution of income  - to redistribute income from wealthy to the poor in order to support those who would otherwise find it diffcult to maintain a minimum standard of living.

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The government tries to redistribute income by using tax to collect government revenue and then uses welfare payments to reditribute income.

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What is the best way to redistribute income? by H.C. | WASHINGTON DC

ECONOMISTS have two contradictory impulses when analysing policy. The first is to ignore its effects on the distribution of income or wealth, and argue that policymakers should shoot for efficiency and worry about redistribution later. This instinct often surfaces in discussion of policies like carbon taxes. These increase efficiency by raising the price of pollution, a harmful activity that, without intervention, comes too cheap for the polluter. But carbon taxes tend to hit poorer people, who spend a higher fraction of their income on fuel, the hardest. We should introduce the tax anyway, economists say, and re-distribute by other means.

This first impulse is loosely based on the "fundamental welfare theorems", which say that whatever the initial distribution of wealth, trade will lead to an efficient outcome. The best way to redistribute is not to interfere with trade, but to divvy up "endowments"-peoples' initial wealth. On this view, inequality can be dealt with in isolation, after figuring out how best to lubricate markets.

The second, opposing impulse, which is on display in many DC think-tanks, is to examine forensically the distributional consequences of every policy in isolation. This is becoming more common, partly because computing advances have made simulation models, which estimate how much a proposal will change the income of each social group, easier to run. As a result, few policy analyses omit to mention the "distributional benefits" or "distributional costs" of whatever is being proposed. In Britain, new policies come with an "equality impact assessment" which scrutinise their impact on specific groups.

A good example is student debt. Many young Americans feel it is an acutely stressful burden, which holds back their ability to save to, say, buy a house. Yet when politicians like Hillary Clinton propose measures to reduce student debt, economists are quick to point out that doing so would not, on the whole, help the poor. Graduates earn more than the population at large; those with the most student debt tend to be law-school graduates with lucrative careers ahead of them. Similarly, economists love to point out that higher minimum-wages do not benefit the poorest households most, because they relate to hourly pay rather than overall household income. Such polices are, economists say, "poorly targeted".

Which impulse is preferable? The first seems wrong-headed, because it is not possible in reality to redistribute endowments. Inequality often results from trade over time-some people do well in the market, others less well-and, as a result, redistribution must be an ongoing project. When pressed on their preferred measure of redistribution, economists will often cite policies like the earned-income tax-credit, which tops-up the wages of poor workers. Yet this does not look at all like the efficient, lump-sum redistribution of economic models. Because it gets less generous as income rises, the EITC discourages low-income workers from earning more (marginal tax rates for low earners, accounting for benefit-withdrawal, can exceed 80%). The scheme is wasteful: the IRS estimates that 24% of EITC payments are improper. And other workers must pay taxes to fund EITC payments. Those higher tax rates distort the economy, too.

The second instinct, though, does not seem much better. Take student-debt again. When the British government raised tuition fees in 2010, it was so keen to make its reforms "progressive" that it introduced a complex system whereby higher-earners pay higher interest-rates. Yet it seems bizarre to redistribute within one group-graduates-rather than in society more broadly. There is no convincing reason for making high-earning graduates, as opposed to high-earners in general, subsidise education.

Furthermore, policy sometimes rightly helps higher-income folk. One example is childcare. At a conference on tax policy I attended last year, one participant pointed out that the child tax-credit, which provides money to parents with incomes up to about $95,000, does not have the "distributional advantages" of the EITC. But presumably there is value to society in helping more than just the poorest parents and children. Similarly, policies to subsidise child-care-often supported by the left-help all single-earner households become multiple-earner households, including those where the single-earner already has a high income. That is no bad thing if it helps achieve other goals, such as increasing female participation in the workforce.

The lesson is that policymaking must be holistic; proposals cannot be judged fully in isolation. Sometimes, regressive policies and universal benefits are welcome, even if an unequal income distribution is not. At the same time, it is unrealistic to expect all corrective redistribution to happen through one idealised channel like the EITC, because concentrating redistributive firepower in one area can cause collateral damage to incentives. As usual, economists will do best if they cast their most unworldly assumptions-of whatever variety-aside.

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What is the best way to redistribute income?

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What is the best way to redistribute income? by H.C. | WASHINGTON DC ECONOMISTS have two contradictory impulses when analysing policy. The first is to ignore its effects on the distribution of income or wealth, and argue that policymakers should shoot for efficiency and worry about redistribution later.

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Question 4
For the government to create an fair market for both consumers and producers.

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Question 3 -
The provision of public goods and services is when the government makes public goods and services available

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Forest biodiversity and ecosystems provide a broad array of both tangible and intangible services and goods. They include the most obvious ones like the food we eat (mushrooms and wild fruits like Divul, Hal, Himbutu), fresh water we drink and clean air we breathe, essentially the primary life-support systems. Then we obtain plant materials such as fire-wood, medicinals (Weni wel, Kothala himbutu etc.) and aromatics (Walla patta of recent fame) and other forest raw materials for our domestic consumption and industries. Though less obvious, forests and other such green spaces sustain processes that purify air and water, breakdown waste products, sequester carbon, cycle nutrients and maintain soil fertility, all of which we take for granted and hardly pay any attention to their sustainability.

Ecosystem services therefore, are the benefits provided by various ecosystems to human well-being which in common parlance is known as 'health, wealth and happiness'. These are often bundled together as provisioning, regulating, cultural and supporting services by the Millennium Ecosystem Assessment report prepared in 2005. However, there are other ecosystem values which have no known benefit to humans as yet, but are of intrinsic value to the web of life on earth.

In addition, forests also perform regulatory functions such as flood control, climate amelioration, air and water quality regulation, pest and disease control and supporting services such as pollination, seed dispersal, nutrient cycling and primary production of foods mostly by fixing carbon dioxide that is available in the atmosphere. Likewise, they also provide invaluable cultural services such as spiritual, aesthetic, recreational and educational values for the wholesome well-being of humans and all other living organisms. Yet today, all these life-sustaining systems, collectively known as ecosystem services, provided by forests and other such landscapes are largely taken for granted and perceived as public benefits or 'free lunches' in modern society's balance sheet. Despite being fundamental to the well-being of human societies, critical contribution of ecosystem services have hitherto been overlooked in public, corporate and individual decision making processes, primarily because they are public services rendered by Mother Nature free of charge.

The concept of ecosystem services gained world-wide recognition when the United Nations published its Millennium Ecosystem Assessment Report in 2005 (MEA). It was prepared collectively by 1,300 scientists of global repute spending over a period of four years, primarily to draw the attention of the policy makers to the rapid decline in biodiversity and their functioning, leading to a global level impact on ecosystem services they render that are vital to human well-being, their livelihoods, health and very survival.

As a sequel to this global effort, a second international initiative was undertaken by the UN Environmental Programme between 2007 and 2010 called 'The Economics of Ecosystems and Biodiversity' (TEEB synthesis report, 2010) bringing ecosystem services, which had hitherto been in the exclusive domain of the ecological community, to the doorstep of the business world. At the same time it was heralded by mainstream mass media as a possible link to be explored between biodiversity and socioeconomic domains.
Making nature's values more visible
The Economics of Ecosystems and Biodiversity (TEEB) is a global initiative focused on "making nature's values more visible" in decision making. Its principal objective is to mainstream the values of biodiversity and ecosystem services into decision-making at all levels from local to global. It aims to achieve this goal by following a structured or tiered approach to valuation that helps decision-makers recognise the wide range of benefits provided by ecosystems and biodiversity, demonstrate their values in economic terms and where appropriate, capture those values in decision-making.

The first step in this process is 'Recognising' the value in ecosystems, landscapes, species and other aspects of biodiversity which has been a feature of all human societies and communities at varying scales over a millennia. Setting aside protected areas, national parks and wilderness areas for provisioning aforesaid ecosystem services are good examples of giving due recognition to such valuable ecosystems, landscapes, riverscapes and seascapes. Sometimes, this level of recognition alone has been sufficient for ensuring conservation and sustainable management. However, both global and local trends are that this current level of recognition of ecosystem services rendered by natural ecosystems and landscapes including forests is woefully inadequate to stem the conversion of natural ecosystems in to other land uses ostensibly considered as more valuable to human well-being.

The second principle of TEEB approach is 'Demonstrating' ecosystem service value which has hitherto been the invisible value of nature in economic terms. An economic value is often useful for policy makers and businesses, in reaching decisions that consider the full (market and non-market) costs and benefits of a proposed use of an ecosystem.

Capturing value is the final tier of the economic approach, which involves the introduction of mechanisms that incorporate the values of ecosystems as demonstrated in economic terms in to decision making through incentives and price signals.

In moving towards valuation of natural biological assets which are the biodiversity and their ecosystem services, the concept of 'natural capital' - the constituents of nature - has been introduced to be on par with other types of capitals such as human capital (education, work skills, mental & physical health) and social capital (social cohesive networks) and manufactured capital (infrastructure, buildings, machines) in socio-economic parlance. The concept of 'natural-capital' refers to those constituents of nature that can be linked directly with human welfare. This includes all natural assets such as minerals, water, air, living organisms, ecosystems and their functioning. This natural capital need to be maintained at a level so that it can deliver its 'interest' in the form of ecological services for human well-being in a sustainable manner in to the distant future.

This widespread recognition of ecosystem services has contributed significantly to redefining hitherto invisible values of nature which had been taken for granted in relation to human interactions with them at different scales from shifting cultivation to large scale cash-crop plantations. The widespread neglect of the natural capital, leading to degradation of ecosystem services and biodiversity has now reached serious levels of social and economic costs. The 'business as usual' approach will only lead to further aggravation of environmental and socio-economic calamities at more frequent intervals.
Value of natural capital
Although the valuation of natural capital and its interest is implicit in decision making, it is often hidden from public view due to lack of comparable methods for valuation as for other capitals such as manufactured or built capital. This is often seen in instances where natural forests are alienated for large scale agricultural, industrial or infrastructure developmental ventures without taking a stock of the valuable ecosystem services rendered may be invisible to many, by the forested ecosystem. A classic example is the 'Sinharaja logging project' of the 1970s which was launched to meet the growing timber demand for making peeler-wood chests for packaging tea for export and hardwoods for domestic use. At that time, the overriding value of provisioning timber was considered as the primary good as opposed to other bundles competing ecosystem service values such as conservation of biodiversity, regulation of soil and water, aesthetic, educational and recreational value etc. which were not considered adequately as the economic values of the latter services were hidden from policy makers due to lack of comparable methods for their valuation. However, today the tables have turned in Sinharaja, where regulatory service values and cultural values are in the forefront in both economic and ecological estimations even without a proper demonstration of its economic value. This could be attributed primarily to public awareness of the ecosystem service values of Sinharaja forest.

This novel way of looking at nature as the 'natural capital' which so freely offer its interest in the form of goods and services, is expected to play a key role in building a sustainable and durable future for humanity. Evaluating and communicating economic values using a monetary metric can draw the attention of policy makers and also lay people, about the magnitude of these services relative to others provided by human-built capital (conversion of a forest to urban development or to agricultural expansion). Improved transparency about valuation of ecosystem services in order to make nature more visible, (while recognizing the uncertainties and limitations of methodologies) can only help to make more informed decisions.

Most natural capital assets such as clean air, clean water, soils, biological diversity etc. are not traded in the market place at present and as such, non-market valuation methods have to be used for assigning monetary values to them. However, this becomes even more difficult when dealing with more complex services such as regulating, supporting or cultural services. Provision of water for consumption and agriculture from natural springs in forested watersheds has been revered and protected by indigenous cultures of many civilizations. The current 'business as usual' approach of converting forests and other ecosystems for cash-crop agriculture in our central highlands will only lead to further aggravation of environmental and socio-economic calamities in the future at more frequent intervals than experienced at present.

Although the valuation of natural capital and its interest is implicit in decision making, it is often hidden from public view due to lack of comparable methods for valuation as for other capitals such as manufactured or built capital. This is often seen in instances where natural forests are alienated for large scale agricultural or infrastructure developmental ventures without taking a stock of the valuable ecosystem services rendered may be invisibly to many, by the forested ecosystem.

Most ecosystem services such as climate regulation, clean water and clean air are common pool 'public resource' services and conventional market strategies could not be applied for their valuation. Nonetheless, awareness of the value of ecosystem services be it cultural, supporting or regulatory, is indeed helpful for their efficient management. In such instances, introduction of economic incentives such as a payment for maintaining these services can bring about desired outcomes. A number of successful case studies of payments for ecosystem services are now available in many countries.
'Commodification' of nature
This utilitarian concept of valuation of nature is viewed by some critiques as 'commodification' of nature. However, proponents of the ecosystem valuation concept stress the fact that expressing the value of ecosystem services in monetary units does not mean that they should be treated as private commodities that should always be traded in private markets. Many ecosystem services are public goods or the product of common assets that cannot (and should not) be privatised. As an example, services rendered by mangrove ecosystems are common assets that should not be privatised. Their value in monetary terms is an estimate of their benefits to society expressed in units that communicate to a wider audience.This in turn could assist in raising awareness of the value of ecosystem services to society. It will then serve as a powerful and essential communication tool to inform better, more balanced decisions regarding trade-offs with policies that enhance GDP but damage ecosystem services, the cost of which is often conveniently externalized by the developer.

Taking all these recent developments in valuation of forest ecosystems and their services to consideration, the UN-REDD Programme in Sri Lanka together with the Forest Department of Sri Lanka is organizing an international research symposium on 'Valuation of Forest Ecosystems and their Services' on October 18, 2016 at the Bandaranaike Memorial International Conference Hall as an integral part of 'Sri Lanka Next Blue-Green Era Convention and Exhibition which was held from October 17-19 (see the web site - http://reddpluslk.com/Research_Symposium2/programme-agenda/).

This research symposium intends to bring together an impressive range of presentations by both Sri Lankan and International researchers on recognising, demonstrating and capturing ecosystem service values in line with The Economics of Ecosystems and Biodiversity methodology. This we hope would pave the way for developing a suitable mechanism to make Sri Lanka's nature and its ecological services more visible in economic terms when making policy decisions impacting forest ecosystems.

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The Economics of Ecosystems and Biodiversity

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Valuation of Forest Ecosystems and Their Services

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Forest biodiversity and ecosystems provide a broad array of both tangible and intangible services and goods. They include the most obvious ones like the food we eat (mushrooms and wild fruits like Divul, Hal, Himbutu), fresh water we drink and clean air we breathe, essentially the primary life-support systems. Then we obtain plant materials such as fire-wood, medicinals (Weni wel, Kothala himbutu etc.)

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3) In terms of regulating business enterprise, the government can issue subsidies as well as apply tarrifs and quotas so that inventories are not exceeded or overproduced.

LINK:

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Tony Galati, the self-described "spud king" of Western Australia, has won the potato war.

After a 30-year campaign against the state's archaic potato regulator, including a lengthy and unresolved court case, the Barnett government has announced the industry will be deregulated from 1 July.

New agriculture minister Dean Nalder, who is just two weeks into the job, made the announcement on Friday. From 1 July, the Potato Marketing Corporation (PMC) will be wound up, and two supporting pieces of legislation abolished, ending the regulator's powers to stop and search a vehicle they reasonably believe may be carrying more than 50kg of potatoes.

Former agriculture minister Ken Baston, who was dropped from the front bench in the March reshuffle, had previously maintained the government would not deregulate the industry until after the state election in March next year.

But Nalder told reporters in Perth on Friday growers had told him they wanted the matter resolved sooner.

"I met with the head of the industry and they advised that the biggest thing that they wanted was certainty in the marketplace and they were pleading that we get on with it," he said.

The deregulation will be coupled with a $14m assistance package, all but $2m of which, Nalder said, would go directly to growers once an equitable distribution arrangement could be worked out. The remaining $2m is to support the industry transition to deregulation and encourage WA growers to move into export markets.

"We still see a very strong future for potato growers," Nalder said. "We don't see any other vegetable or fruit that has government regulation and a marketing board for an individual fruit and vegetable ... All the advice we have received is that this has been an impediment for the state to grow."

The call for market certainty followed five particularly quarrelsome years in the potato community and protracted legal battles between the PMC and Galati, the biggest potato grower in the state and sole supplier to his chain of Spudshed discount grocery stores. The court cases centred on Galati's habit of growing more than his allocated tonnage of potatoes and, in one case that got him on to the front page of a national newspaper, giving the illicit crop away for free.

In November, the WA supreme court granted the PMC an injunction to stop Galati selling or distributing an extra 3,600 tonnes of potatoes grown above his quota. The PMC had previously taken Galati to court in 2010 and again in 2011 for growing too many potatoes.

In last year's annual report the PMC said "one grower" - it did not name Galati - was the cause of significant challenges in the industry. Galati, in turn, said he was prepared to go to jail rather than stop selling cheap potatoes, and penned a long letter in a wraparound advertisement on the cover of the West Australian criticising the PMC, surrounded by what were apparently letters of support from devoted Spudshed shoppers.

Nalder would not comment on whether the state government, which controls the PMC, would withdraw its case against Galati given the quota system would soon cease to exist, saying that decision would be made at "arm's length" from him.

He said the government would work with the PMC's eight staff to see if they could be redeployed in other government roles.

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Western Australia's potato war ends with spud king Tony Galati the victor

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Tony Galati, the self-described "spud king" of Western Australia, has won the potato war. After a 30-year campaign against the state's archaic potato regulator, including a lengthy and unresolved court case, the Barnett government has announced the industry will be deregulated from 1 July.

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2) Redistribution of income- If resource allocation was determined by market forces, the economy would theoretically operate in a very efficient and flexible manner. All questions regarding resource allocation would be answered by the "invisible hand"of the price mechanism. Relatively scare items would have high prices, both in markets for final goods and services, and in factor markets (the markets for labour, raw materials and capital equipment

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2. Income is redistributed with the intention of increase community living standards for those who are on lower income levels. Income is redistributed throught various forms of tax, such as personal income tax. Income is redistributed to try and minimise inequality.

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Redistributing Income
Federal, state and local authorities provide welfare payments to members of society, such as the unemployed or the elderly, that would otherwise struggle to earn an income. Generally payed for by taxes, over 40% of the annual federal government budget is spent on on providing these payments.

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2. Macroeconomic management and the business cycle - The development and use of policy measures to reduce the fluctuation in economic activity associated with the business cycle.
Especially during the recession stage of the business cycle, the government will try to fund or release more subsidys to businesses and society as a whole to try to create an upswing in the business cycle. Thus increasing GDP profit share in the year and keeping the economy flowing on good terms

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Redistribution of income occurs in Australia through the use of tax, mostly direct taxation. The income from tax is then injected back into the economy in the form of welfare payments. Welfare comes in the form of direct transfer payments, like pensions and welfare benefits, and indirect government payments such as public education and housing.

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Provision of public goods
the government choses where public goods in the country placed and who they are given to. This allows for the goods to be used in the most effective way as there is no competitive exclusion. These public goods are used by everyone and without them quality of life would be poor.

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Question 2-
Redistribution of income- This is when the government tax people who earn more money more and use the tax payers money as welfare payments for the people who don't earn as much money

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2) As for the redistribution of income, this governmant role involves collecting taxes from the public in the form of the standard income tax.

This regime involves taxing citizens based on a percentage of their gross earnings. Taxes can also be collected from businesses as in GST (Gross Domestic Product).
From here, the government can then redistribute and reallocate the accumilated funds from citizens to those who require tit more. By this I refer to centrelink payments, age pensions, disability pensions, etc.

Essentially, money is reallocated to those who would otherwise find difficulty in obtaining a job and thus to earn an income

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1. Provision of goods and services
2. Regulation of business enterprise
3. Redistribution of income
4. Macroeconomic management and the business cycle

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Question two:
Redistribution of income- The government intervenes to redistribute income of the wealthy to the poor. Taxation and welfare benefits are examples of income redistribution. The Lorenz curve and Gini coefficient both measure income redistribution.

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1) The provision of public goods and services
The Redistribution of income
The regulation of business enterprises
Macroeconomic management

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1. The four economic roles of the government are: the provision of goods and services, regulation of business enterprise and the redistribution of income.

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1. Redistributing Income
2. Regulating business enterprises
3. Macroeconomic Management
4. Providing public goods and services

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Question 1
1. Provision of public good
2. Redistribution of income
3. Regulation of business enterprises
4. Macroeconomic managemenr

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Mitchell Peter Smith
1. a)The provison of goods and services
b)Regulation of business enterprise
c) Macroeconomic management and the business cycle.
d) Redistribution of income

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1) The "public sector" is the portion of the economy that is mandated by the government.
The government has economic duties that must be fulfullied:
1 - provision of goods and services
2 - redistribution of nincome
3 - regulation of business enterprises
4 - management in the macroeconomic system & the business cycle

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1) provision of goods amd services
2) regulation of business
3) redistribution of income
4) macroeconomic management

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Question one:
-Provision of public good
-redistribution of income
-regulation of business enterprises
-macroeconomic manag

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1:  The government has many roles that allow it to control the economy including.
1) Redistribution of income
2) Provision of public goods
3) Regulation of business enterprises
4) Management of marcroeconomic system

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Miss Rosario
To post you need to double click on the screen - work at your own pace and make sure your work is thorough