Role of Government in Economics

Essay specific features

 

Issue:

Business

 

Written by:

David J

 

Date added:

March 2, 2014

 

Level:

 

Grade:

B

 

No of pages / words:

4 / 974

 

Was viewed:

7290 times

 

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Essay content:

Discrete units of government referee economic relationships, seek out foul play, and impose penalties. Government intervention is presumed to improve the allocation of resources. By supplying a medium of exchange, ensuring product quality, defining ownership rights, and enforcing contracts, the government increases the volume and safety of exchange...
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This widens the market and fosters greater specialization in the use of property and human resources. Such specialization promotes a more efficient allocation of resources. The government improves the operation of a market system by maintaining competition. Competition is the basic regulatory mechanism in the market system...
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