Government Intervention (week 5)

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6 Terms

1
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Redistributive

To distribute income.

2
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Allocative

reallocation of resources

3
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Stabilisation

To stabilise the economy

4
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HOW? Redistributive

•Welfare benefits

•Progressive taxes

5
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HOW? Allocation

•The market may produce socially undesirable items.

•To provide goods and services the private sector does not supply.

6
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HOW? Stabilisation

•Inflation decreases

•Unemployment decreases •Economic growth increases