Question

Becoming informed about economics helps a person understand the

Answer 1

It is important that every one know the role of government in regulating production cuz it help them understand our economics

Answer 2

Answer:

B) role of government in regulating production.

Explanation:

The study of Economic Science allows us to understand the fundamental assumptions that govern the functioning of market economies.

A market economy operates under the logic of the interaction between supply and demand for goods and services, so that firms act in a system of competition, via prices, for the market share. Thus, consumers are benefited by competition.

A market economy operates freely, so the role of government is to ensure the right environment for economic transactions to take place and to dictate the rules, ie, to regulate economic activity to prevent overlaps occurring, such as formation of price cartels.