Both markets and governments are inefficient. Explain why
economists are concerned with the inefficiency and offer...
Both markets and governments are inefficient. Explain why
economists are concerned with the inefficiency and offer a
compelling economic argument as to how to minimize inefficiency
a full page answer:
2) Why do economists consider tariffs inefficient? If they are
so inefficient why are they still prevalent, despite the WTO? What
are non-tarriff barriers and why have they become more
prevalent?
John is complaining about how inefficient and greedy governments
are. “Why are they such beggars? They keep asking people for money
all the time. Is it not that they are supposed to offer us
facilities and take care of us. Instead individuals, households and
business houses, all of us, have to keep feeding them all the
time.” He is expressing his alarm in an agitated voice as he
rambles on. “They come for you in all forms. They will be...
Explain why economists believe that in standard markets
the equilibrium is efficient, and welfare is maximised. Use and
describe the fundamental assumptions and laws of
economics.
Governments are frequently tempted to introduce price ceilings
in markets. Use an example to explain why this is not such a good
idea, at least when markets are competitive. Give some ideas as to
what the government could do instead in order to help consumers in
these markets.
Thank you in advance for not copying other's answers
Governments are frequently tempted to introduce price
ceilings in markets. Use an example to explain why this is not such
a good idea, at least when markets are competitive. Give some ideas
as to what the government could do instead in order to help
consumers in these markets. (Answer: 400 - 500 words)
Explain why it might be both socially and economically
beneficial for governments to regulate the merger activity of firms
in highly concentrated markets (Oligopoly markets) such as the
wireless phone industry or the cable-TV industry?
Explain why economists believe that in standard markets
the equilibrium is e?cient, and welfare is maximised. Use and
describe the fundamental assumptions and laws of
economics.
Governments sometimes intervene in insurance markets. Explain in
detail two reasons why they might intervene and outline the
rationale and justification for doing so.