Describe the role of government and need of it, individually, in all types of such market situations

Q: What is meant by the concept "laboratories of democracy"? Why do you think state and local…

A: The concept of "laboratories of democracy" coined by Louis Brandeis states that certain social and…

Q: Consider the issue of government intervention in a market economy. Please provide brief discussions…

A: Government intervention in an economy is a talk about the presence of public power which has this…

Q: onfucius is a "laissez-faire" thinker--this implies an absolute--that government must never regulate…

A: Businesses are legal entity that is incorporated to earn profits.

Q: If the primary objective of government programs in each of these areas is the alleviation of some…

A: Governments around the world put efforts to make an economy work efficiently, for that they…

Q: Role Of Governmen

A: In an ‘economy’, the ‘private sector’ accounts for the biggest ‘money making sector’ of the economy.…

Q: Analyze the relation between the five forces and different market structures.

A: The collective strength of these forces determines the ultimate profit potential of an industry. The…

Q: 1) Besides raising revenue, what is the most likely goal of government that enacts a per unit tax.…

A: Hi! Thank you for the question but as per the guidelines, we answer only one question at one time.…

Q: Define the principle of rival consumption. A. idea that subsidies should be given to rival companies…

A: Consumption refers to the act of deriving utility from a good or service. The level of consumption…

Q: You should research evidence of market failure and government intervention in the assigned country.…

A: Market failure is the situation when there is an insufficient supply of a good or service as…

Q: Explain the function of government below. Alteration of the structure of private production

A: Alteration of the structure of private production. It is very important for government to understand…

Q: Identify the type of market failure, explain why it occurs and provide a solution (i)    An auto…

A: Market fails because some time buyer or sellers don't have perfect information or it can sometime…

Q: Refer to Figure 10-3. If this market is currently producing at Q1, then total economic well-being…

A: The market is in equilibrium when the demand for a product is equal to supply of the product. When…

Q: Why does high compensation (wages) with little or no output from the worker is bad for the economy?…

A: Wage: The term wage refers to the remuneration that is paid to workers against their work. In most…

Q: The government addresses market failures when it enforces property rights. True or False

A: Externalities refer to the cost or benefit of an economic transaction on a third party who is not…

Q: In the presence of market failure ,the argument for government intervention is only compelling but…

A: There are several types of “market failure,” which occurs when some attributes of the market prevent…

Q: The result(s) of having government defien and  protect property rights is (are) a. an increase in…

A: Protection of Property rights is in line with the idea of Laissez Faire where the government…

Q: describe the four different categories of legislation based on the distribution of costs and…

A: The four categories of legislation are based on concentrated and widespread costs and benefits.…

Q: Explain the measures used by the government to correct each of the following sources…

A: In a free economy, the  equilibrium price and quantity is determined by the forces of demand and…

Q: Which of the following is a positive externality from education? a.Better-educated people make…

A: Positive externalities are the beneficial side effects arise out of producing or consuming some…

Q: According to free-market economists: a. when capital goods are allocated by the market, they will…

A: The free-market economist believes in minimum or no intervention in the production distribution or…

Q: Much of production and distribution involves the creation or the handling of things. a. . Is this a…

A: Production is a method of conversion of raw materials into finished and final good. Distribution is…

Q: Macroeconomics is a study of economics that deals with which 4 major factors: A) Firm, government,…

A: Macroeconomics is that branch of Economics where we study the economic problems and issues at a…

Q: Define Public Policy according to Laswell

A: Lasswell had an effect on Political Science in the area of Policy, particularly Public Policy and…

Q: To start off, can you think of examples of how we have watched (or are watching) the law respond to…

A: There are two ways 1. Helps the society change with its laws 2. 2. Changes itself for a better…

Q: two reasons why an amendment is more important than a law

A: The laws are the rules and regulations set by the government of a nation which we have to obey in an…

Q: discuss in detail what are‘Market failure’ within the public sector

A: A marketplace is a public meeting place where people can exchange goods and services. The most…

Q: Evaluate the arguments for government intervention in the markets.

A: Government interventions refer to the interference of the government in the market. This is…

Q: Which of the following is a key economic function of government? a. issues passports, visas, and…

A: One of the key economic functions of the government is to protect and enforces property rights and…

Q: Find a government regulation imposed by the Commonwealth of Virginia that addresses a market…

A: Market failure is the term used in neoclassical economics and can be defined as a circumstance in…

Q: Government regulation of economic and social activities permeates our lives. While regulation in…

A: For an economy, the government plays a crucial role in designing the formal and legal market…

Q: Which of the following is not an argument against government intervention in a market? A. If the…

A: Government intervention means influence the demand and supply forces . And fix the the price and…

Q: The government addresses market failures when it enforces property rights.

A: When individuals in a group end up worse off than they would have been if they had behaved in their…

Q: Describe the case made by economists for public provision of essentially private goods such as food,…

A: A private good is a product that must be purchased in order to be consumed, and consumption by one…

Q: Considering the Human Right to Adequate Food, should “healthy” food be made available to all, free…

A: Public Goods are  those  goods which are provided through budget without profit consideration and…

Q: The creation of knowledge is a public good. Because knowledge is a public good, profit-seeking firms…

A: Public goods are those goods which are freely available on the market and whose use does not affect…

Q: Externalities can be ________ by collective (i.e.) ________ action. a. enhanced // market b.…

A: Governments and establishments regularly make moves to disguise externalities, in this way…

Q: Government regulation of economic and social activities permeates our lives. While regulation in…

A: The principal vehicles through which the federal government executes laws and agency objectives are…

Q: What is a free market         a) a store where goods are free       b) an economy controlled by the…

A: A free market is an economic system that is driven by the market forces of demand and supply. All…

Q: Explain the measures used by the government to correct each of the following sources of market…

A: Market Failure refers to the inefficiencies in the distributions of goods and services in the…

Q: Do you believe the steps that the federal government takes to encourage the socially optimal amount…

A: Federal Government  The U.S. Constitution grants Congress, the President, and the Federal courts,…

Q: What is a market-failure rationale for the government investing in education and training programs?…

A: Governments use fiscal policy to increase employment by increasing the aggregate demand and the…

Q: Find a government regulation imposed by the Commonwealth of Virginia that addresses a market…

A: In economics, market failure is a condition characterised by inefficient allocation of commodities…

Q: When assessing the optimal size of the public sector, the benefits of government action   Multiple…

A: Public goods are those goods which are non-rivalrous and non-excludable. It means that no individual…

Q: What is market failure, and what kinds of things can lead to market failure?  What is government…

A: Market failure is a situation in the economy that leads to inefficient distribution of goods and…

Q: 1) Three types of business organizations operating in a free market 2) Outline whether a public…

A: A structure based on supply and demand with slight or no government control is said to be the free…

Q: One popular way governments try to ameliorate market failures is by imposing taxes or offering…

A: Externalities are side effects of economic transactions which are faced by the third party. These…