Government three primary functions

Assignment Help Business Economics
Reference no: EM133131966

Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect citizens from crimes against themselves or their property. When government - in pursuit of good intentions - tries to rearrange the economy, legislate morality, or help special interests, the cost comes in inefficiency, lack of motivation, and loss of freedom. Government should be a referee, not an active player.

This requires you to write an essay demonstrating an understanding of arguments for and against government intervention.

Reference no: EM133131966

Questions Cloud

Working on-call on weekends : Frank Hill works for a company with a semi-monthly pay cycle. He earns $80,000 per year and receives over-time paid at time and a half for any approved hours wo
What does this imply about the internal rate of return : Assume that the net present value for an investment is calculated as -£14,000, at a rate of return of 8%. What does this imply about the internal rate of return
Determine the amount of depletion expense : Question - Hidden Hollow Mining Co. acquired mineral rights for $52,250,000. Determine the amount of depletion expense for the current year
Determine the depreciation for each of the first two years : Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate
Government three primary functions : Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect
Difference between a demand shock and a supply shock : Explain the difference between a demand shock and a supply shock to the economy. Which do you think we are experiencing now
What amount will appear on the balance sheet : A building is purchased for $650,000 with a $200,000 down-payment and a $450,000 mortgage. What amount will appear on the balance sheet as a long-term liability
What is the incremental cost per student for transportation : A hotel will cost $100 per night, and gas will cost $400. They will share those costs. What is the incremental cost per student for transportation
Values and assumptions of economics and business : What are the values and assumptions of economics and business? Describe the values underlying neoclassical economics and explain why the field relies heavily on

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd