Question

Which of the following is not generally regarded by economists as a legitimate reason for the government to intervene in a market:A) to promote efficiency,B) to promote equality,C) to enforce property rights,D) to protect an industry from foreign competition

Answer 1

To protect an industry from foreign competition is not generally regarded by economists as a legitimate reason for the government to intervene in a market.

Option D is correct .

What is your biggest economic problem?

The underlying economic problem is that society does not have enough productive resources to produce everything people want. This is also known as scarcity. The value of goods and services is determined by their rarity and usefulness. For a good to have monetary value, it must have utility and value.

What is the reason for all financial questions and problems?

The reason all financial questions and problems arise is because people's needs exceed the resources available to meet them. Economics is the social science that studies how people make decisions to deal with shortages.

What are the economists' main concerns?

A central task of economics is to determine the most logical and effective use of resources to achieve private and societal goals.

Learn more about Economists as legitimate :

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