Tag: government
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Redistribution of income
Redistribution of income Rich people earn more money than the poor people Government aims to re distribute the money from rich to poor Government normally achieves this aim by taxing the rich people
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Full employment
Full employment Government wants its people to finds jobs When a person willing and able to work does not find job he/she is called unemployed The government wants to keep the unemployment rate low Full employment leads to economic growth and social well-being
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Government as a producer
Government as a producer of goods and services Government produces the goods or services which the private sector cannot or do not want to produce Railway Street lighting Defense Merit goods Government as an employer Government hires or employs people to do its work for the companies or industries it is running.
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Examples of intervention
Examples of intervention In most of the countries cigarette manufacturers are required to state on their packing that the product in injurious There are minimum wages set by the governments Packed-food manufacturers are required to mention the calories and ingredients Manufacturing of some medicines is banned by the governments.