Q: Regarding the problem/article below, as a professional in economics, do you think it is necessary…
A: The markets are considered to be of utmost importance for the development and growth of the…
Q: Consider the issue of government intervention in a market economy. Please provide brief discussions…
A: Government intervention in an economy is a talk about the presence of public power which has this…
Q: How should individuals in society respond to government-imposed vaccinations?
A: Vaccination is a very important procedure as it attests human body to help the immune system to…
Q: If the primary objective of government programs in each of these areas is the alleviation of some…
A: Governments around the world put efforts to make an economy work efficiently, for that they…
Q: There are never unintended consequences of government intervention to address market failures. true…
A: In the mentioned question we have been asked whether thee are consequences of government…
Q: Why might redistribution across communities make sense for the provision of education? a-there are…
A: The correct option is c ‘there is externality associated with education’.
Q: What does it mean that ideally government should act in such a manner as to “bring about the outcome…
A: Yes government should at in that manner which increases the overall social welfare and produce…
Q: How the subsidies can solution the externalities problem
A: An externality is a cost or benefit of an economic activity experienced by an unrelated third party.…
Q: Why does high compensation (wages) with little or no output from the worker is bad for the economy?…
A: Wage: The term wage refers to the remuneration that is paid to workers against their work. In most…
Q: Explain how market failure can be used to justify government intervention in medical care markets
A: Market failure in healthcare could occur due to a number of reasons. This is because healthcare is a…
Q: In the presence of market failure ,the argument for government intervention is only compelling but…
A: There are several types of “market failure,” which occurs when some attributes of the market prevent…
Q: Explain what is meant by market failure and outline the sources of market failure.
A: Market failures can be corrected by allowing competitive producers in the market and consumers as…
Q: Describe how government intervention affects the supply and demand equilibrium. by using the two…
A: By the term equilibrium, economists mean the demand and supply to be exactly equal. To address…
Q: Provide a subsidy for the vaccination Government produces and operates vaccination centers, where…
A: Subsidies are a type of government intervention in which the government pays suppliers to lower…
Q: One reason we need government, even in a market economy, is that: a. The invisible hand, while…
A: Market Economy Market economy refers to system where production of goods and services are directed…
Q: 29. In the absence of government intervention (such as a tax or subsidy), what is the social loss…
A: 29. A drop in economic and social well-being induced by the introduction of a new tax is referred to…
Q: Which of the following is a positive externality from education? a.Better-educated people make…
A: Positive externalities are the beneficial side effects arise out of producing or consuming some…
Q: Public good is a good or service that can be consumed simultaneously by everyone and from which no…
A: A product or service that benefits everyone in a society is referred to as a "public good." Public…
Q: Subsidies are A. all of the other answers. B. rewards for those receiving a positive…
A: Subsidies are paid by the government to owners of goods and services for various reasons. Sometimes…
Q: Governments sometimes provide social programs universally to everyone, and sometimes government…
A: Social Security refers to the provision of a payment that the government makes to the public in…
Q: There are never unintended consequences of government intervention to address market failures. True…
A: In a free market, price is determined by pure market forces of demand and supply. Equilibrium price…
Q: The production possibilities curve shows the tradeoff between housing and all other goods. a. If the…
A: PPC stands production possibilities curve which describe the possibility of production with given…
Q: Government failure occurs when a government's attempt to correct a market failure has unintended…
A: The markets are the place where the buyers of the goods, and services interact with the sellers,…
Q: Evaluate the arguments for government intervention in the markets.
A: Government interventions refer to the interference of the government in the market. This is…
Q: Which of the following is NOT an example of government intervention in the market? a. Corporate…
A: When markets allocate resources inefficiently, governments intervene in the market. Resources are…
Q: As the Great Depression began in 1929, and millions of Americans found themselves in a terrible…
A: Depression refers to the fall in economic activity severely and for a long time. Great depression of…
Q: ome economists argue that government intervention is needed in addressing the issue of market…
A: In a free market where the prices of goods, the supply of goods and the demand for it are the basic…
Q: Which of the following is not an argument against government intervention in a market? A. If the…
A: Government intervention means influence the demand and supply forces . And fix the the price and…
Q: Weaknesses and strengths of market and command systems. List one strength of a market system. Why…
A: The economy that is being controlled by the government is known as a command economy. The economy…
Q: Governments generally want people to get immunised against highly contagious viruses such as…
A: When the outcome of an economic transaction is not completely efficient.All the costs and benefits…
Q: What are three reasons that a government might want to intervene in markets?
A: Government interference is government legislative action that aims to alter the decisions taken…
Q: Government intervention in the economy is appropriate whenever... a. The benefits of the correction…
A: There exists market failure when markets fails to provide socially efficient quantity.
Q: Considering the Human Right to Adequate Food, should “healthy” food be made available to all, free…
A: Public Goods are those goods which are provided through budget without profit consideration and…
Q: Suppose you are told that electronic cigarettes cause health problems such as depression and…
A: Welfare economics is the study the allocation of goods and resources and how it affects social…
Q: if the marginal social benefit exceeds the marginal private benefit, the eficiency of the market can…
A: Marginal Private Benefit is referred to as the additional benefit derived by consuming one extra…
Q: The Orlando Sentinel newspaper had an August 30, 2019 story titled “Hurricane Dorian: Florida…
A: Price Ceiling: The price ceiling is a market situation when the price charged is more than or less…
Q: government spending
A: Government spending- government purchases the goods & services to use them efficiently for the…
Q: Two reasons for a government to intervene in a market are to
A: In a free market, the forces of market demand and supply determine the equilibrium level of price…
Q: if the governement would like to induce a consumer to consumer a specific level of some good. which…
A: Figure 1 illustrates the impact of subsidy to consumer and the money value of the subsidy.
Q: What are the possible reasons why the government may make a market intervention? What are the…
A: The intervention by the government is the action taken by the government which can change the…
Q: When a quota is used with "cap and trade" to control an externality, the government must determine…
A: Cap and trade is a government regulatory program which is used to cap or limit the level of emission…
Q: When economists look for some explanation for government provision, we want to find some kind of…
A: The economics as a study is based upon the idea that the resources which are present with the…
Q: What challenges and opportunities would arise from higher and lower degrees of government…
A: Government intervention in the market refers to the regulation of the market by the government…
Q: how does public opinion impact our society and our political system? (American government 101)
A: By its actual nature, the majority rule process prods residents to shape opinions on various issues.…
Q: Adam and Catherine are choosing between two ice cream shops, Icy and Frosty, located at either end…
A: Willingness to pay is referred to as the maximum price a customer would be willing to pay for a good…
Is market failure either necessary or sufficient for government intervention?
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