Question

9 We require state intervention because?
a. goods and services are free
b. quality goods and services are provided
c. cost of social goods are less
d. there is fair distribution of goods
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Answer 1

Answer:

Governments intervene in markets to address inefficiency. In an optimally efficient market, resources are perfectly allocated to those that need them in the amounts they need. ... Inefficiency can take many different forms. The government tries to combat these inequities through regulation, taxation, and subsidies.

Answer 2

Answer:

your answer is option (c) cost of social goods are less

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