Which is a more serious problem between market failure and government failure?

Q: From Adam Smith's Wealth of Nation , What is the “great enemy” of the economy (hint: not…

A: In the wealth of nation, Adam Smith says that free market forces produce the maximum or optimal…

Q: Which of the political tools for controlling economic systems is the best?

A: Answer- Need to find- Which of the political tools for controlling economic systems is the best…

Q: What does it mean that ideally government should act in such a manner as to “bring about the outcome…

A: Yes government should at in that manner which increases the overall social welfare and produce…

Q: What is a neo-liberal agenda that will advance the public sector?

A: There are various ideologies to deal with a specific social and economic conditions. Neo-liberalism…

Q: Explain economic impacts of democracy?

A: When a nation transforms from a non-democratic system to a democratic one, it often experiences a…

Q: Is there a need for the government to talk about Economics in layman's term? Justify and explain.

A: Government. in general, is known as the authority that is meant to make major decisions regarding…

Q: Watching movies with particular kinds of content (e.g. violence, coarse language, crime, sexual…

A: Watching movies that have a negative effect on audiences is a typical case of negative externality,…

Q: John Maynard Keynes

A: John Maynard Keynes is the father of Keynesian economics. He gave the short-run mechanism of…

Q: Why are good policies and programs important in states?

A: In different states, there are different types of government to manage the socio-economic activities…

Q: How do taxes influence the four sector model?

A: Households, businesses, government, and foreign trade are all part of a four-sector economic…

Q: C. government policies will be ineffective and counterproductive.

A: Answer C) government policies will be ineffective and counter productive

Q: What are the reasons for public failure

A: Public failure could be a result of various reasons, that has been explained as follows

Q: free rider problem?

A: The free rider problem is an economic concept of market that failure occurs when people are…

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

A: Market equilibrium is a situation where the market forces balance and there is efficient allocation…

Q: Why is it necessary to have a freely elected government for democratic capitalism to create a…

A: The democratic capitalism system is based on the 3 components: 1) Free enterprise which provides the…

Q: What are the demerits of a socialistic economy only 2 demerits.

A: According to the given question In simple words we can say that a socialistic economy is a type of…

Q: What is the government policy that supports research and development (R&D), doesn't involve the…

A: The process through which there is the creation of improved or new technologies that could help in…

Q: Give an example of a free rider in society. Can you think of ways the government or the private…

A: GIVEN   an example of a free rider in society is

Q: how government can help business organizations in our community

A: Business organization is an enterprise which describes the structure of the business and the goals…

Q: Imagine that the leaders of a poor nation with a centrally planned economy become willing to try a…

A: As we know that Economy is that system in society where people earn their livelihood. And engage in…

Q: Public Policy

A: Public policies are the combinations of actions, laws, regulations, policies and several other…

Q: What are the external influences on the economy?

A: External influences in the economy refer to the factors that are beyond the control of the economy…

Q: Do you think that higher education in engineering should receive a greater government subsidy…

A: Education plays a very significant role in increasing the cognitive skills, efficiency and knowledge…

Q: What is the relation between the government and the production process?

A: Government has complete command on the production process and organizations. As it sets rules, laws…

Q: Discuss the market failure which justifies government involvement in the economy

A: Market failure can be understood as a situation where resources are not utilised efficiently or in…

Q: . What is Corporate Social Responsibility? What are the benefits of CSR?

A: Corporate social responsibility: A company must look into its impact on the social and environmental…

Q: o you think secularization is good or bad? Why?

A: Secularization, taken in its broadest sense, implies the expansion in the common, the fleeting, or…

Q: Why is the study of economics important to democracy and why is it important for society to have an…

A: ExplanationEconomics is a subject that deals with the relationship between individuals who are…

Q: Why is “how to produce” a problem in every economy?

A: The central problems all the economies around the world face are "What to produce, how to produce,…

Q: different initiatives of the government to address the social injustice

A: Social injustice depicts the injustice faced by an individual or group at social level.

Q: What is the Economic Disaster?

A: Meaning of Economic Disaster or Economic Crisis: The economic crisis generally occurs when there…

Q: According to Professor Kane, the best solutions to fix governmental and economic problems usua.…

A: Since you have posted multiple questions, we will solve the first question for you. If you require…

Q: The two main forms of economic organisations are  a the hierarchy and the market  b the…

A: Economics is a social science that deals with micro and macro economics. Microeconomics deals with…

Q: Who declared that every human being has the right to clean water in 2003?

A: The Human right to clean water is a right which summarises that clean drinking water and…

Q: Why are no economies truly free, in the sense of having no controls or restrictions?

A: Economies cannot be set totally free because of negative economic experience that has been observed…

Q: What challenges and opportunities would arise from higher and lower degrees of government…

A: Government intervention in the market refers to the regulation of the market by the government…

Q: Is it inevitable that government must become involved in supporting investments in new technology?…

A: In the present world, technology is the main driver of change. There has been an increasing world…

Q: A painting by Monet displayed in a museum is: a. excludable but not rival. b. rival but not…

A: Option (c) both rival and excludable  is correct.

Q: Explain why and in what sense each of the following is an economic good. (a) A hard copy of…

A: An economic good is a good or a service that has a benefit to society and a degree of scarcity due…