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?
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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.
Explain Self-interest of the Market System?
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Illustrate the complex cases when both supply and demand shift?
Importance of Economics:Economics has become one of the major branches of social sciences. This is of enormous practical value in our day by day life. In pure sciences, we study the subject
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