3.1.5.8 Government intervention in markets Flashcards
The existence of market failure, in its various forms, provides an argument for government intervention in markets. Governments influence the allocation of resources in a variety of ways, including through public expenditure, taxation and regulations. Governments have a range of objectives and these affect how they intervene in a mixed economy to influence the allocation of resources. The use of indirect taxation, subsidies, price controls, state provision and regulation to correct market failur (0 cards)
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