--%>
Assignment Help - homework help

Public Sector Government Role

Illustrate the Public Sector Government’s Role of providing the legal structure?

E

Expert

Verified

1. Government ensures property rights, provides enforcement of contracts, acts as a referee and imposes penalties for foul play.

2. Government intervention improves the allocation of resources by supplying a medium of exchange, ensuring product quality, defining ownership rights, and enforcing contracts.

3. These interventions widen the market and foster greater specialization in the use of property and human resources.

4. The appropriate amount of regulation is at the level where the marginal benefit and marginal cost are equal.

   Related Questions in Business Economics

  • Q : Determine relative price when two

    When the prices for doughnuts and croissants are $.50 and $1 correspondingly: (w) the opportunity cost for one doughnut is two croissants. (x) this is better to buy two doughnuts than one croissant. (y) one croissant will make Pierre twice as happy as one doughnut. (z

    		•
  • Q : Heterodox approach for more production

    From the heterodox approach, what options does the enterprise need to produce more output? What effect do these options put on its cost structure?

    		•
  • Q : Best illustration of a perfectly

    Which of the given is the best illustration of a perfectly competitive industry: w) wheat production. x) steel production. y) electricity production. z) airplane production. Hey friends please give your opinion for

    		•
  • Q : The federal fiscal stimulus Question:

    Question: Was the stimulus package passed in 2009 as success?  In answering this question the focus should be the articles on the syllabus, but you should also include opinions of other commentators.   Your answer should also describe w

    		•
  • Q : Illustrate major economic flows that

    Illustrate major economic flows that link U.S. with nations.  Provide an example to illustrate each flow.  Explain the relationship between the top and bottom flows.

    		•
  • Q : Importance of Price Earnings Ratio

    Write down the importance of Price Earnings Ratio?

    		•
  • Q : The market system provides such a

    Explain the statements: The market system provides such a variety of desired goods and services precisely.

    		•
  • Q : Competitive market economy will make

    Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?

    		•
  • Q : Divide of the study of economics MOST

    The study of economics is MOST frequently divided within: (1) positive economics and negative economics. (2) macroeconomics and microeconomics. (3) subjective economics and objective economics. (4) supply side and demand side economics. (5) conservative economics and

    		•
  • Q : Question 7 Question 7: You are given

    Question 7: You are given the following data about two firms: FIRM A Quantity 0 1 2 3 4 5 6 Total revenue ($) 0 10 20 30 40 50 60 Average revenue ($) ___ ___ ___ ___ ___ ___ ___ Marginal revenue ($) ___ ___ ___ ___ ___ ___ Total cost ($) 30 42 50 60 76 100 14

    		•