Explain the policies that a government might use to encourage private businesses. [6]
Government might use various policies to encourage the private businesses. One of the most important policy is that granting subsidies which encourage the business by reduction in their cost of production and increase in the output. Secondly, government can bring changes in the taxation. Reduction in the tax rate also is an incentive to business to increase their production. Moreover, some government gives grants such as new machines free labours to some businesses which are again an incentive for the businesses.
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