What is the economic role of government, Managerial Economics

Assignment Help:

Q. What is the economic role of government? What are the roles?

Meaning: economic role is the role played by the government in uplifting the economy. The important roles:

1. The regulatory role; a large part of the economy is planned and regulated by the government. It may determine the conditions under which persons or associates may enter certain lines of business, public control and the relationships between various segments of the economy. Direct control v/s indirect control.

2. The promotional role: the state will have to assume direct responsibility to build up and strengthen the necessary infrastructure such as power, finance, marketing etc.

3. The entrepreneurial role: the growing importance of the entrepreneurial role of the state is evident from the rapid expansion of the public sector in most of the countries.

4. The planning role: the state plays a very important role as planner. The welfare government has the responsibility for fulfilling the aspirations of the people by bringing about all-round prosperity.


Related Discussions:- What is the economic role of government

Balance of payments, BALANCE OF PAYMENTS The Balance of Payments of a ...

BALANCE OF PAYMENTS The Balance of Payments of a country is a record of all financial transactions between residents of that country and residents of foreign countries.  (Resi

Define concept of managerial decision-making, Define concept of Managerial ...

Define concept of Managerial decision-making Managerial decision-making draws on economic concepts as well as techniques and tools of analysis provided by decision sciences. T

Health care economics, prepare a break-even analysis to determine volume re...

prepare a break-even analysis to determine volume required to cover costs with and without a specified profit target and price.

Example on relationship between marginal and average cost, Q. Example on Re...

Q. Example on Relationship between marginal and average cost? This relationship between marginal and average cost can easily be recalled with the aid of Fig. below. It can be s

Nature and function of money, The nature and function of money The dev...

The nature and function of money The development of money was necessitated by specialization and exchange.  Money was needed to overcome the shortcomings and frustrations of t

Expected utility, (Only for extra credit) Consider Freddy on a rainy Thursd...

(Only for extra credit) Consider Freddy on a rainy Thursday afternoon after losing in his favorite video game. His friend Tommy comes over to cheer him up and offers him the follow

Costs of economic growth, Costs of Economic Growth (Increase in National In...

Costs of Economic Growth (Increase in National Income) 1.     People living in industrial towns suffer from the effects of a polluted atmosphere. 2.     The manufacture of

Calculate the marginal product of labor, The production function of a small...

The production function of a small shop that frames pictures is Q = 5 √ LK where Q is the number of pictures framed per day, L is labor hours and K is the machine hours.

Banking system, T HE BANKING SYSTEM Consists of all those institutions...

T HE BANKING SYSTEM Consists of all those institutions which determine the supply of money.  The main element of the Banking System is the Commercial Bank (in Kenya).  The sec

Porter’s Five Forces, bargaining power of customer for a cement company

bargaining power of customer for a cement company

Write Your Message!

Captcha
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