Question

WHAT IS ECONOMY AND GOVERNMENT

Answer 1

Explanation:

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.

Answer 2

Answer:

economy

the state of a country or region in terms of the production and consumption of goods and services and the supply of money.

Government

the group of people with the authority to govern a country or state; a particular ministry in office.