Free market economy is efficient way to allocate resources

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The free market economy is an efficient way to allocate resources. However, this is not true 100% of the time. The government serves a role to intervene when maintaining competition and a legal structure. Also, goods and services that are not competed for and non-excludable do not “fit” into the free market model. With what you have learned in our economics class, please discuss the following. What sectors of the economy do you believe the government should take an increasing role, and what areas are they involved in you believe they should have a decreasing role? Why?

Reference no: EM131092377

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