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Explain why we have government provision of goods and services instead of using markets. What are the 3 rationales for the government providing goods and services instead of markets

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 3PA

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Explain why we have government provision of goods and services instead of using markets. What are the 3 rationales for the government providing goods and services instead of markets?

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Step 1: Understand The concept of government provision of goods and services :

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Step 2: Discussion of Government Provision:

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Step 3: Identify of Rationales:

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Step 4: understand the Stabilization and Macroeconomic Management

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