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This report is for an M.P. who is about to appear on Question Time, and who is weak on Economics.
Member rating: No Rating | Words: | Submitted: Mon Jun 06 2005
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This report is for an M.P. who is about to appear on Question Time, and who is weak on Economics. Government Intervention When the supply and demand do not meet a satisfactory outcome for stakeholders in society, this will lead the market to failure. For example, pollution and congestion produced by vehicle, and increased interest rate for house properties, which are affected by mortgages. Market failure may have resulted from the following situations:- * The economy is not well developed to put up changes in demand * Goods or services are not available in enough quantities to match demand * Demand in a particular market may have collapsed unexpectedly * Small or new business struggling to compete because of the dominance of a market by a specific business This is when government becomes involve. The government's duty is to decide what is appropriate and what is not appropriate for the economy. There are numerous of examples of...
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