They use taxes to provide public goods and services.
the government enforces economic laws and regulations
It passes economic laws and regulations
It passes economic laws and regulations
It passes economic laws and regulations
it passes economic laws and regulations
it passes economic laws and regulations
Laissez Faire
In centralized economic system everything in the economy is controlled by the government. In this type of economies market does not have any role to play. Production and consumption of goods are controlled by the government.
Laissez-faire
Role of the government is to take taxes.
The Department of Treasury formulates and advises the government in economic policy.
No role the government should play.