0
When might it be desirable for a government to act as producer of goods and services with regards to economics?
Wiki User
∙ 10y ago
Discussion of areas of market failure. This will be expressed in general
terms - syllabus mentions the government as a producer of goods and
services but does not deal with public and merit goods.
Wiki User
∙ 10y ago
Anonymous
to provide employment
to provide public goods
to get public outcome
to provide essential services
Add your answer:
Earn +20 pts
What is the difference between consumer and producer in economics?
The producer supplies good and services and the consumer demands them.
One option available to regulate a monopoly is?
In certain cases, the government might have to intervene by imposing fines or otherwise regulate the business. In the case of public goods, the government might actually have to be the producer of certain desirable, yet unprofitable goods and services.
What describes the efficiency function of economics?
The government oversees the production of goods and services. (A+)
What best describes the efficiency function of economics?
The government oversees the production of goods and services
What does the term 'allocative efficiency' refer to?
Allocative efficiency is the concept in economics where manufacturers and service providers only produce those goods and services which are in high demand and the most desirable to the consumer.
What is the difference between consumer and producer in economics?
The producer supplies good and services and the consumer demands them.
What are the actions that other people value in the game of economics?
In the game of Economics services are actions that other people value. These are the services that are mainly provided by the government.
One option available to regulate a monopoly is?
In certain cases, the government might have to intervene by imposing fines or otherwise regulate the business. In the case of public goods, the government might actually have to be the producer of certain desirable, yet unprofitable goods and services.
Who controls the prices of the goods and the services in the economics system of the communism?
The government decides where to invest resources.
What describes the efficiency function of economics?
The government oversees the production of goods and services. (A+)
What best describes the efficiency function of economics?
The government oversees the production of goods and services
What does the term 'allocative efficiency' refer to?
Allocative efficiency is the concept in economics where manufacturers and service providers only produce those goods and services which are in high demand and the most desirable to the consumer.
What are the aspects of economics?
There are three aspects of economics. They are utility (wants that satisfy power), scarcity (goods and services possess value when they combine utility with scarcity), and producers and consumers (most people play the roles of both producer and consumer in their daily lives).
Give you an example of a producer?
The Government is a producer because they pay attention to the economic struggles that we have on a regular basis and the create [produce] opportunities and/or job for people to improve a certain industry like Order [police].
What does the public sector mean in economics?
The public sector is the part of the economy providing basic good and services which are controlled and maintained by either the federal or local government.
What is the relationship of economics and socialscience?
Economics is the ssc that analyzes the production, distribution and consumption of goods and services.
What do you call a person who uses resources to make goods and provide services?
A producer.
