Question

To what extent should the government intervene in the market?


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Answer 1

The government tries to combat market inequities through regulation, taxation, and subsidies. Governments may also intervene in markets to promote general economic fairness. Maximizing social welfare is one of the most common and best understood reasons for government intervention.

Answer 2

Answer:

•The government tries to combat market inequities through regulation, taxation, and subsidies. Governments may also intervene in markets to promote general economic fairness.

• Maximizing social welfare is one of the most common and best understood reasons for government intervention.

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