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What needs and wants are hard to answer for Government intervenes in market economies?
Wiki User
∙ 9y ago
Money makes is hard to determine what needs and wants people can afford. The government has difficulty intervening in market economies because financial situation vary greatly.
Wiki User
∙ 9y ago
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What must the government provide to a property owner if it needs to take his property for government use?
If the government needs private property for its own use, they should give fair market value to the owner of the property. The property owner can also give the government an easement agreement to the property and still retain ownership.
How do societies respond when the government fails to meet their needs?
Who knows what will happen? That's the cause of much anxiety these days.
Why does the government respond to the needs views or request of citizens?
please help
When and to what extent is it acceptable for the government to place the needs of the nation over the rights of the individual?
In cases where there is a breach in national security, it is acceptable for the government to place the needs of a nation over the rights of an individual. The government is trying to protect the national security of the United States all the time.
True false government is the process of accommodating different needs and viewpoints?
False
How did the growth of cities and towns in the colonies lead to the development of an free-market econonmy?
Meeting needs through trade allowed free-market economies to develop in these towns.
What is Difference between pure market and command economies?
In a market economy, resources are allocated to the production of goods and services on the basis of decisions made by individual businesses anticipating customer needs and desires. The communication
Why does even a free market economy need some government intervention?
Even a free market economy needs government intervention to provide for things that the marketplace does not address.
What is the effect of economic dualism on a country?
Dual economies are common in less developed countries, where one sector is geared to local needs and another to the global export market.
Would famine make people more sufficient?
No. Famine would decrease productivity and hurt the economies of the grocery market. People would be shifting their needs from technological advances in medicine and entertainment to lower essential needs.
Why do centrally planned economies have difficulty meeting consumers need?
In a free-market economy, the various suppliers of goods can increase or decrease production in relation to sales in the marketplace. This means that consumer's needs can be properly taken into account by the suppliers. Conversely, in a centrally planned economy, there is a long time differential between the supply as determined by the government and any changes that the government may make to that supply. As a result, the marketplace cannot adequately take care of consumers' needs.Additionally, it is not clear that the government will allocate production based on what the consumers actually want to consume. Governments may choose to produce specific products that they wish more members of the populations to have and fewer products that they wish to not be used in society. The amount of product in the market could be set based on bribes and corruption. The amount of product in the market could be based on government interest in companies making the product. There are even cases where the government wants to properly map consumers' needs, but are unable to accurately forecast those needs.
What is the difference between market and command economies?
In a market economy, resources are allocated to the production of goods and services on the basis of decisions made by individual businesses anticipating customer needs and desires. The communication link between producer and consumer can be direct. In a command economy, resources are allocated to the production of goods and services on the basis of decisions made by government technocrats, usually based on directives from a centralized political body anticipating the needs, and possibly wants, of the nation and its citizenry. The communication link between producer and consumer is routed through and interpreted by technocrats, who are often employed by politicians that may or may not have been elected by the citizenry (consumers).
Why does even a free enterprise market economy need some government intervention?
Even a free market economy needs government intervention to provide for things that the marketplace does not address.
What would cause a resurgence of planned economies?
Planned economies rely on centralized government to control all or most factors of production and to make all or most production and allocation decisions. A market economy is an economy in which individuals control production and allocation decisions through supply and demand. Planned economies appeal to people as a solution to a large amount of poverty. They promise a high rate of growth in economic prosperity, an improving quality of life, and a different distribution of wealth than market economies. When the economy fails to improve, and quality of life in the country fails to improve at the pace of market economies, the government tends to relax its control and a market economy develops. Previously planned economies are controlled by oppressive and unaccountable politicians who eventually lose power. If an economy in a nation is characterized by a large number of people in extreme poverty and a high unemployment rate, a planned economy could be used to bring order and to stimulate productivity. Former Soviet Union disbanded due to food shortages in their planned economy, showing poor planning by their leaders. Theoretically in a market economy, when a shortage of a good arises, the prices of that good will rise giving an incentive to entrepreneurial business people to produce more of that product so they can reap the increased profits. Recently, a drought killed a large amount of corn crop, driving the price of beef and other foods up. If there were a severe drought enough to where there is not enough water to grow crops and food needs to be rationed carefully, the government may move towards a planned economy. America has a mix between market and planned economies, in that some economic activity is subsidized while some businesses have regulations. For example, when Enron caused a spike in energy prices beyond a reasonable amount in California, the government forced the company to lower its price. Being the only option for energy needs in areas where Enron provided service, a natural monopoly, Enron could have in a true market economy charged as much as they wanted for electricity and all those involved would have taken great profits.
What must the government provide to a property owner if it needs to take his property for government use?
If the government needs private property for its own use, they should give fair market value to the owner of the property. The property owner can also give the government an easement agreement to the property and still retain ownership.
What is the role of government in a market system?
In a free market system, there are producers that make the product and consumers that purchase the product. The government just needs to make sure that the participants are following the laws and regulations and to provide proper infrastructure such as good roads and railways.
What would cause resurgence of planned economy?
Planned economies rely on centralized government to control all or most factors of production and to make all or most production and allocation decisions. A market economy is an economy in which individuals control production and allocation decisions through supply and demand. Planned economies appeal to people as a solution to a large amount of poverty. They promise a high rate of growth in economic prosperity, an improving quality of life, and a different distribution of wealth than market economies. When the economy fails to improve, and quality of life in the country fails to improve at the pace of market economies, the government tends to relax its control and a market economy develops. Previously planned economies are controlled by oppressive and unaccountable politicians who eventually lose power. If an economy in a nation is characterized by a large number of people in extreme poverty and a high unemployment rate, a planned economy could be used to bring order and to stimulate productivity. Former Soviet Union disbanded due to food shortages in their planned economy, showing poor planning by their leaders. Theoretically in a market economy, when a shortage of a good arises, the prices of that good will rise giving an incentive to entrepreneurial business people to produce more of that product so they can reap the increased profits. Recently, a drought killed a large amount of corn crop, driving the price of beef and other foods up. If there were a severe drought enough to where there is not enough water to grow crops and food needs to be rationed carefully, the government may move towards a planned economy. America has a mix between market and planned economies, in that some economic activity is subsidized while some businesses have regulations. For example, when Enron caused a spike in energy prices beyond a reasonable amount in California, the government forced the company to lower its price. Being the only option for energy needs in areas where Enron provided service, a natural monopoly, Enron could have in a true market economy charged as much as they wanted for electricity and all those involved would have taken great profits.
