ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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government
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social
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private
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market
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Detailed explanation-1: -In addition to fiscal and monetary policies, a government affects the economy through regulatory policy, which aims to limit what can be done in the marketplace. Most governments have some regulations covering a variety of areas, including: Banking, insurance, and other financial businesses.
Detailed explanation-2: -The regulatory role of the government involves formulating and implementing various direct and indirect measures to monitor and regulate the economic activities of the private sector.
Detailed explanation-3: -Regulations are made through delegate legislation. It is when the executive authority is given powers by a legislation to make laws in order to implement and administer the requirement of that legislation. These are also called subordinate legislation. Regulations are passed for the proper implementation of the act.
Detailed explanation-4: -Enacting and Enforcing Laws. Maintaining Law and Order. Providing Monetary System. Balanced Regional Development and Growth. Provision of Basic Infrastructure. Supply of Information. Assistance to Small-scale Industries. Transfer of Technology. More items