Provide Legal System/Public Goods
Correct Market Failures
Maintain Competition
Redistribute Income
Stabilize the Economy
100
Civil law, common law, and religious law.
What are some examples of legal systems?
100
A Market Failure is when freely functioning market fail to deliver an efficient allocation of resources.
What is a Market Failure??
100
No.
Are big businesses bad for the economy?
100
Using social security
How does the government redistribute income?
100
discount rate
What tools does the Fed have to control the money supply
200
Clean air, national defense, street lights, and light houses
What are some examples of public goods?
200
Markets may fail to meet a need or want.
Give an example of a market failure.
200
They redistribute income to satisfy everyone's needs
Why does the government redistribute income ?
200
A benefit of a market economy would be competition between firms that is lead to increasing efficiency.
what is a benefit of a market economy ?
300
Public education, sanitation, fire, health, hospital, and infrastruction maintenance
What good and services could be provided and why do we provide them??
300
They must maintain competition
how can the government fix market failures??
300
create jobs for others
How do entrepreneurs help the economy.
300
A fiscal policy is the policy pursued by the government using taxation borrowing in government spending to influence broader economy.
What is a fiscal policy ?
400
The president
Who appoints federal judges?
M
e
n
u