b) Strengths and weaknesses

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Last updated 11:00 PM on 5/19/26
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4 Terms

1
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  • state the strengths of interventionist policy

  • eliminates market failure

  • often improves quality of life

2
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  • state the weaknesses of interventionist policy

  • risk of government failure

  • government expenditure → budget deficit + public debt

3
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  • strengths of market-based policy

  • higher quality goods/services

  • no inflation/reduced inflation → sustainable economic growth

4
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  • weaknesses of market-based policy

  • deregulation → negative externalities

  • reduced workers rights + increased income inequality