1 Government Plays a vital Roat Role & Procides the legal & Social farmwork within which the economy operetition in the marketplace: Describe the Role of Government in Socialist & > mixed economy.
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The government (1) provides the legal and social framework within which the economy operates, (2) maintains competition in the marketplace, (3) provides public goods and services, (4) redistributes income, (5) cor- rects for externalities, and (6) takes certain actions to stabilize the economy.
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