🎴 Flashcard Mode
The Role of Government in Economic Regulation
Card1 / 15
Mastered0
Review0
QuestionClick to flip
What is the primary rationale for government intervention in the economy through regulation?
AnswerClick to flip back
A
To correct market failures
💡 Explanation:
Government intervention in the economy is primarily aimed at addressing market failures, which occur when the market mechanism fails to allocate resources efficiently or equitably.