Question

Write two welfare functions of the government.​

Answer 1

Answer:

In summary, the economic functions of a government include: Protection of private property and maintaining law and order / national defence. Raising taxes. Providing public services not provided in a free market (e.g. health care, education, street lights...

who has completed 1000 answer that message on my profile

Answer 2

Answer:

In summary, the economic functions of a government includes:-)

1. Protection of private property and maintaining law and order / national defence.
2. Raising taxes.
3. Providing public services not provided in a free market (e.g. health care, education, street lighting)
4. Limit market failure through the regulation of markets, e.g. regulations on environment/labour markets/monopoly.
5. Macroeconomic management, e.g. use of fiscal and monetary policy to control business cycle – recession and inflation.

Reducing inequality/poverty.