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Misha Larkins [42]
3 years ago
7

Describe the three roles of the government within the economic flow

History
1 answer:
Anna35 [415]3 years ago
4 0

Answer:

In summary, the economic functions of a government include:

Protection of private property and maintaining law and order / national defence.

Raising taxes.

Providing public services not provided in a free market (e.g. health care, education, street lighting)

Limit market failure through the regulation of markets, e.g. regulations on environment/labour markets/monopoly.

Macroeconomic management, e.g. use of fiscal and monetary policy to control business cycle – recession and inflation.

Reducing inequality/poverty.

Explanation:

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In agriculture and related areas, monoculture is a method that implies growing only one type of crop rather than integrating multiple species of plants or kinds of crops in one area. This is often used to make the process more efficient and specialize in one specific crop. However, this can also have negative consequences such as the deterioration of soil because the same crop is planted over and over in the same area. According to this, the option that best describes monoculture is "Only one kind of crop is grown in a given area."

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