Need help with an economic easy question

timer Asked: Nov 5th, 2015
account_balance_wallet $5

Question Description

What is the main responsibility of government? Should government seek to keep markets competitive and provide maximum private property rights, or should it attempt to manipulate markets to benefit some over others? Why?

Tutor Answer

School: Rice University

Thank you for the opportunity to help you with your question!

The primary responsibility of the government is to protect individual rights and freedom. It is a good responsibility as citizens are able to utilize their rights and freedom to establish a fair and just community in relation to a sound economy. The government should seek to keep market competitive and offer maximum private property rights because it generates more innovation and greater wealth equality. The other reason is the approach of requesting to keep market competitive by the government is significant as it creates a sense of wellbeing by promoting individual initiative and the presence of more opportunities and variety. Fundamentally, the content of encouraging competition in a state is significant as it is likely to reduce the gap between the rich and the poor based on the perspective that each individual will be given an opportunity to invest in what thrives for the economy.

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awesome work thanks

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