Question

In: Economics

Briefly answer while employing at least one economic term. Evaluate the statement: “The government should have...

Briefly answer while employing at least one economic term.
Evaluate the statement: “The government should have no place in a capitalistic market system.”

Solutions

Expert Solution

"The government should have no place in a capitalist market system"

Two important freedoms;freedom of enterprise and freedom of choice are important features of a competitive capitalist market system.This is essential as without it a capitalist market system would not exist.The above statement means if there is huge existence of government interference in the economy,in case of command market system,it causes damage to organization,innovation as well as growth.However there is little place for the government in the capitalist market system.The government can work towards promoting economic stability and growth in the economy.The government can also help by providing goods which are not produced or which are under produced in the economy.It also helps in redistributing income.While major decisions like what and how much to produce,rests with the market system,the government still have a prominent part in the marketing system of the market structure.


Related Solutions

Briefly answer while employing at least one economic term. What is the importance of competition in...
Briefly answer while employing at least one economic term. What is the importance of competition in relation to self-interests in a market system?
Briefly answer using at least one economic term please. Explain the term “laissez faire capitalism.”
Briefly answer using at least one economic term please. Explain the term “laissez faire capitalism.”
Evaluate the statement that one city should provide all the electricity for both cities, while the...
Evaluate the statement that one city should provide all the electricity for both cities, while the other provides all the water
Use the economic concept of scarcity to evaluate this statement: "College education should be free for...
Use the economic concept of scarcity to evaluate this statement: "College education should be free for everyone." What would it mean to provide "free" college education to everyone?
ANSWER IN DEPTH WITH EXAMPLES! Evaluate the statement: “The least favorable business environment is a politically...
ANSWER IN DEPTH WITH EXAMPLES! Evaluate the statement: “The least favorable business environment is a politically unstable, developing nation with a command or mixed economy, and an unsecured legal system.” What does it mean? Provide examples.
Answer one of the following questions in essay form. Your submission should be at least one...
Answer one of the following questions in essay form. Your submission should be at least one page long. The essay is worth 10 points. Topic: Addiction Choose one Essay Topic for 10 points Are you addicted to technology? Does your use of technology negatively affect your daily life? Is there addiction in your family? Do you want to share your experience with addiction in family member's or friend's life?
Why have some countries prospered economically while others have not? Your response should integrate at least...
Why have some countries prospered economically while others have not? Your response should integrate at least three or four of the main themes and topics studied in this class. Use specific examples of developed, developing, and least developed countries in your response. [This is an Essay prompt.]
Should the United States government be required to have a balanced budget? What are the long-term...
Should the United States government be required to have a balanced budget? What are the long-term implications of continued government indebtedness?
Fertility rates have important economic effects. Discuss at least one direct and one indirect effect of...
Fertility rates have important economic effects. Discuss at least one direct and one indirect effect of fertility on economic development.   
Fertility rates have important economic effects. Discuss at least one direct and one indirect effect of...
Fertility rates have important economic effects. Discuss at least one direct and one indirect effect of fertility on economic development.   
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT