In the presence of market failure ,the argument for government intervention is only compelling but not always beneficial. True or false, and explain

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: 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: Governments continue to provide public support to some farmers, even in the absence of market…

A: Public choice takes the very rules that financial experts use to examine individuals' activities in…

Q: What are the effects of government intervention in the market?

A: Government intervention in the market is very necessary as it leads to efficiency in the market…

Q: There are never unintended consequences of government intervention to address market failures. true…

A: In the mentioned question we have been asked whether thee are consequences of government…

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: Explain how market failure can be used to justify government intervention in medical care markets

A: Market failure in healthcare could occur due to a number of reasons. This is because healthcare is a…

Q: According to the Textbook, government price control fail because: a. bureaucrats lack accurate…

A: Price controls refer to the control on prices of goods and services by the government to support…

Q: Describe how government intervention affects the supply and demand equilibrium. by using the two…

A: By the term equilibrium, economists mean the demand and supply to be exactly equal. To address…

Q: Which of the following best describes a weak form of market efficiency? A. it reflects all public…

A: Market efficiency refers to the extent or degree to which market prices reflect all available and…

Q: Is market failure either necessary or sufficient for government intervention

A: Market failure refers to a situation when the allocation of goods or services by the forces of free…

Q: Describe at least three reasons why market failure occur

A: The main reasons of Market failure occurs in the following ways:- 1.Negative Externalities:- This…

Q: Suppose a political candidate criticizes a government pollution permit policy that she says lets…

A: The political candidate's argument disputes with standard economic idea because tradable pollution…

Q: standing of

A: The circular flow model depicts the interaction between two groups of decision-makers of economy…

Q: Governments sometimes provide social programs universally to everyone, and sometimes government…

A: Social Security refers to the provision of a payment that the government makes to the public in…

Q: There are never unintended consequences of government intervention to address market failures. True…

A: In a  free market, price is determined by pure market forces of demand and supply. Equilibrium price…

Q: Alex, Kara, and Susie are the only three people in a community. Alex is willing to pay $20 for the…

A: Public good is that good which is non- rivalrous and non-excludable  in nature.It is provided by the…

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: An externality arises when one economic agent's actions affect the welfare of others in ways that…

A: There are two externalities that can be considered here, either it can be positive externalities or…

Q: The production possibilities curve shows the tradeoff between housing and all other goods. a. If the…

A: PPC stands production possibilities curve which describe the possibility of production with given…

Q: advice recomded government intervention to the cigarette market

A: Tobacco use is a serious concern in India since it is one of the largest producers and consumers of…

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 NOT an example of government intervention in the market? a. Corporate…

A: When markets allocate resources inefficiently, governments intervene in the market. Resources are…

Q: Identify a type of market failure. Provide an example of that type of market failure and briefly…

A: Market failure results when free market fails to produce socially efficient quantity.

Q: ome economists argue that government intervention is needed in addressing the issue of market…

A: In a free market where the prices of goods, the supply of goods and the demand for it are the basic…

Q: The inefficiency created by a negative production externality can be overcome if the government…

A: Economics refers to the social science that studies the production, distribution, and consumption of…

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: Weaknesses and strengths of market and command systems. List one strength of a market system. Why…

A: The economy that is being controlled by the government is known as a command economy. The economy…

Q: Governments generally want people to get immunised against highly contagious viruses such as…

A: When the outcome of an economic transaction is not completely efficient.All the costs and benefits…

Q: Why does government intervention become necessary in the situation of market failure?

A: Market failure is an economic situation wherein the goods and services in an economy cannot be…

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: Two reasons for a government to intervene in a market are to

A: In a free market, the forces of market demand and supply determine the equilibrium level of price…

Q: What are the four major sources of market failure? Explain briefly why each prevents the competitive…

A: Market failure is defined as imperfections that occur in the market between buyers and sellers that…

Q: What are the possible reasons why the government may make a market intervention? What are the…

A: The intervention by the government is the action taken by the government which can change the…

Q: Adam and Catherine are choosing between two ice cream shops, Icy and Frosty, located at either end…

A: Willingness to pay is referred to as the maximum price a customer would be willing to pay for a good…

Q: Help me understand the consequences of the market failure

A: Answer: Market failure appears when the attainable outcomes are not achieved, it is a situation…

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: 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…