Question

Discuss the extent to which the concept of opportunity cost is only of use to<br />governments.​

Answer 1

Answer:

Explanation:

(1) reduce costs of production (1) raise the quality of products produced (1) increase

demand for products made (1) increase incomes (1)

• grants and loans to encourage enterprise (1) increase output (1) increase employment

(1) increase income (1)

• infrastructure development (1) examples of spending on infrastructure, e.g. road

building, hospitals (1) reduce costs of production (1) increase output (1) increase income

(1)

• increase in general government spending (1) increases total (aggregate) demand (1)

• reduction in taxation (1) raise disposable income (1) increase demand (1) increase

output (1) increase employment (1) increase income (1)

• tax holidays could be given (1) encourage multinationals to locate (1) increase output (1)

increase employment (1) increase income (1)

• taxes on profits of companies could be reduced (1) encourage investment expenditure

(1) increase output (1) increase employment (1) increase incom

Answer 2

Answer:

Explanation:

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