Main economic functions of government
Enumerate and briefly discuss the main economic functions of government. Which of these functions do you think is the most controversial? Why?
Expert
One role is to provide the legal and social framework. This goes beyond the elementary policing of keeping people from assaulting and stealing from each other. Government attempts to regulate business in terms of setting standards and rules. Some examples include establishing rules regarding contract negotiations and enforcement; setting standards on safety of food, drugs and other products; educating the public about respect for private property; devising zoning laws, etc.
Illustrate Scarcity and choice of Economic Perspective?
Least consistent along with Adam Smith’s theory of wages would be the suggestion that wages vary positively along with the: (w) effort required to learn skills necessary to accomplish particular types of work. (x) stability of employment and the
Explain how the Circular Flow Model for a Market-Oriented System?
Explain: “Affluence tomorrow requires sacrifice today.”
Transaction costs tend to be decreased and markets are more efficient when: (w) the government subsidizes a good. (x) inter-market price differentials are eliminated through arbitrage. (y) taxes are used to give for social wants. (z) regulations close
Question: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments." Briefly comment on this
Elucidate how to maintain competition?
Economic Territory: This refers to the region of a country where there is a free movement of goods, capital and human resources.
The study of economics is MOST frequently divided within: (1) positive economics and negative economics. (2) macroeconomics and microeconomics. (3) subjective economics and objective economics. (4) supply side and demand side economics. (5) conservative economics and
What do you understand by the term internal rate of return?
18,76,764
1937695 Asked
3,689
Active Tutors
1457734
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!