Purpose of the Assessment To assess understanding of key principles and theories in economics and the ability of the students to apply these principles and theories to business and management scenarios.
For this assessment you are required to discuss:
a) The advantages of Government intervention in the economy when markets fail.
b) The drawbacks of Government intervention when markets are assumed to be functioning normally.
The assessment aims to demonstrate that the students understand the importance of conditionality, that is, the dependence of advantages and disadvantages on the assumption of market failure.Economic interventionism (sometimes called state interventionism) is an economic policy perspective favouring government intervention in the market process to correct the market failures and promote the general welfare of the people. An economic intervention is an action taken by a government or international institution in a market economy in an effort to impact the economy beyond the basic regulation of fraud and enforcement of contracts and provision of public goods. Economic intervention can be aimed at a variety of political or economic objectives, such as promoting economic growth, increasing employment, raising wages, raising or reducing prices, promoting income equality, managing the money supply and interest rates, increasing profits and so on. Students are expected to understand the drawbacks of intervention when the government will go against the requirements of the market such as price-fixing.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more