Question

Give examples of what the government should and should not do in a market economy.

Answer 1

Governments have no authority over market economies. The interaction between supply and demand is essential for market economies to operate.

What government should do in the Market economy?

Governments maintain competition, provide public goods and services, redistribute income, account for externalities, and stabilize the economy in addition to providing the legal and social framework.

Thus, the Governments have no authority over market economies were as. the Governments maintain competition, provide public goods and services, and redistribute income in a market economy.

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