Asked by
Joshua Crouch
on Oct 27, 2024
Verified
All children have to be immunized against polio,measles,mumps,and other diseases.If you don't have enough money to pay for the immunizations,they will be provided free at the county health clinic.Which economic principle does this statement BEST represent?
A) People usually respond to incentives,exploiting opportunities to make themselves better off.
B) Resources should be used efficiently to achieve society's goals.
C) When markets don't achieve efficiency,government intervention can improve society's welfare.
D) Government policies can change spending.
Government Intervention
Actions taken by the government to influence the economy or society, ranging from regulations and taxes to subsidies and direct support.
Immunizations
The process by which an individual's immune system becomes fortified against an agent (known as the immunogen).
Health Clinic
A healthcare facility that is primarily focused on the care of outpatients, offering medical services and treatments.
- Understand the function of governmental actions in addressing market inefficiencies and realizing economic efficiency.
- Comprehend the scenarios that lead to market failures and the significance of governmental intervention to mitigate these issues.
Verified Answer
JG
Learning Objectives
- Understand the function of governmental actions in addressing market inefficiencies and realizing economic efficiency.
- Comprehend the scenarios that lead to market failures and the significance of governmental intervention to mitigate these issues.