What is the economic role of government, Managerial Economics

Assignment Help:

Q. What is the economic role of government? What are the roles?

Meaning: economic role is the role played by the government in uplifting the economy. The important roles:

1. The regulatory role; a large part of the economy is planned and regulated by the government. It may determine the conditions under which persons or associates may enter certain lines of business, public control and the relationships between various segments of the economy. Direct control v/s indirect control.

2. The promotional role: the state will have to assume direct responsibility to build up and strengthen the necessary infrastructure such as power, finance, marketing etc.

3. The entrepreneurial role: the growing importance of the entrepreneurial role of the state is evident from the rapid expansion of the public sector in most of the countries.

4. The planning role: the state plays a very important role as planner. The welfare government has the responsibility for fulfilling the aspirations of the people by bringing about all-round prosperity.


Related Discussions:- What is the economic role of government

Commercial banks, Commercial Banks A Commercial Bank is a financial in...

Commercial Banks A Commercial Bank is a financial institution which undertakes all kinds of ordinary banking business like accepting deposits, advancing loans and is a member

Show the properties of isoquants, Q. Show the Properties of isoquants? ...

Q. Show the Properties of isoquants? Isoquants slope downwards to the right:   It means that, in order to keep output constant; when amount of one factor is increased then the

Describe the status goods of law of demand, Describe the Status goods of la...

Describe the Status goods of law of demand The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulen

Demand for money, Demand for money   The demand for money is a more d...

Demand for money   The demand for money is a more difficult concept than the demand for goods and services.  It refers to the desire to hold one's assets as money rather tha

Mba assignment, what is the role of managerial economics in running a busin...

what is the role of managerial economics in running a business?

Types of market structures by the nature of competition, Q. Types of Market...

Q. Types of Market Structures by the Nature of Competition? Conventionally, the nature of competition is assayed to be the basic criterion for distinguishing different types of

What is the role of managerial economics in organizations, A. Write a detai...

A. Write a detailed essay on the importance of economics to managers. OR  What is the role of managerial economics in organizations ? B. What are the methods of measuring nation

LIne balancing, what is line balancing for paper machine?

what is line balancing for paper machine?

Estimate the demand function, You're standing at three light switches at th...

You're standing at three light switches at the bottom of stairs to the attic. Each one corresponds to one of three lights in the attic, but you cannot see the lights from where you

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd