Question

Elaborate the objective of ‘allocation of resources ‘in the government budget. (3)​

Answer 1

1) Government aims to allocate resources to maintain a balance between maxisation of welfare as well as profits. 2) Private sector of economy usually ignores social welfare. Government budget allows the government to intervene in the economy so as to increase social welfare.

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Answer 2

Answer:

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Government aims to allocate resources to maintain a balance between maxisation of welfare as well as profits. 2) Private sector of economy usually ignores social welfare. Government budget allows the government to intervene in the economy so as to increase social welfare.