Roles of the government
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- The government uses tax money to create projects for those that need it or for public service.
- The city bus is another example of a public good.
- This park bench is a public good.
- No one is allowed to come into my house without permission. Including police officers.
- Good day sir!
- These steps right here are my private property.
- But because of the government redistributing income they are able to create different programs for those in need. Much like my patienthere who needs the help of Medicaid to pay for this appointment
- I am at the doctors office. This appointment usually would be expensive for someone who has no insurance.
- Market Failure happens when the market fails to provide without help
- One example is not being able to build schools or roads
- Another way market failure happens is because the government fails to protect its citizens from gettinghurt
- most of the time this is through public goods.
- Government regulations help keep citizens safe. It also ensures that goods and services
- Examples of these are health inspections at restaurants. Because of this I am able to have dinner at the lovely restaurant
- But on the downside of Deregulation are the market failures
- Deregulation is when the government puts less restrictions on a business. Because of this my small business was able to grown
- But on the upside this can help with economic growth and lower prices for consumers
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