Civil Society Organisations (CSO) differ from corporations. How would these organisations (CSO and private corporations) differ in their approach to managing change for the public good.
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Civil Society Organisations (CSO) differ from corporations. How would these organisations (CSO and private corporations) differ in their approach to managing change for the public good.
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- Macroeconomics is a study of economics that deals with which 4 major factors: A) Firm, government, free-market, and regulation. B) Household, firm, government, and the external sector. C) Household, firm, government, and demand-supply. D) Household, firm, and government only.Which is a more serious problem between market failure and government failure?What do you see as the biggest flaw in using benefit-cost analysis to guide public policy?
- As it relates to a public good, nonrivalry means that: the public sector is able to provide the good profitably. there is no need or demand for the good. either the public sector or the public sector can produce the good, but not both. one person's benefit from the good does not reduce the benefit available to others.Would it be more profitable for a business to follow the economic model or the socioeconomic model of social responsibility?What challenges and opportunities would arise from higher and lower degrees of government intervention?
- As the Great Depression began in 1929, and millions of Americans found themselves in a terrible economic position, President Herbert Hoover was reluctant to involve the government in directly helping people. This decision helped lead to his loss in the presidential election of 1932. Put yourself in Hoover’s shoes—what reasons would he have for being opposed to large-scale government involvement in the economic lives of Americans? What reasons could be given for the government getting involved?Left to its own devices, a free-market economy will not result in the level of environmental quality that people want. Firms pollute, and people make expenditures without concern for environmental consequences. We need some level of government intervention to ensure those decisions take account of other people’s concerns. However, regulation cost tax dollars and is an infringement of liberty. How can we determine how much environmental quality we want and what is the best way of getting it?One popular way governments try to ameliorate market failures is by imposing taxes or offering subsidies. These policies change prices of goods and services so that individuals ___________ the _________ environmental effects of their production and consumption decisions. Fill in the gaps above.
- Which of the following is a characteristic of a public good, as defined by economists? Group of answer choices -Any good that the government provides is a public good. -The good is free, such as education. -The good is nonexcludable -The good is depletable (or rivalrous).Identify a market failure in Trinidad and Tobago, identify the type of market failure and discuss why market failure occured. Identify a market failure in Trinidad and Tobago, identify the type of market failure and discuss why market failure occured. ( public good, asymmetric information, positive or negative externality)Suggest a relevant government policy that would yield the efficient outcome and carefully explain the process through which the implementation of the government policy will lead to the optimal outcome. Carefully explain how the imposition of the chosen government policy impact consumer surplus, producer surplus and total surplus in this scenario.Discuss the market failure which justifies government involvement in the economy