Government failure is present when the government engages in an activity such as the setting of prices that interferes with competitive markets. the incentives confronted by political participants encourage counterproductive use of resources. externalities create perverse incentives that undermine the efficient use of resources. unethical and corrupt tactions are undertaken by some political officials. 00

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Government failure is present when
the government engages in an activity such as the setting of prices that interferes with competitive markets.
the incentives confronted by political participants encourage counterproductive use of resources.
externalities create perverse incentives that undermine the efficient use of resources.
unethical and corrupt actions are undertaken by some political officials.
оооо
Transcribed Image Text:Government failure is present when the government engages in an activity such as the setting of prices that interferes with competitive markets. the incentives confronted by political participants encourage counterproductive use of resources. externalities create perverse incentives that undermine the efficient use of resources. unethical and corrupt actions are undertaken by some political officials. оооо
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