Question

Should the government be allowed to provide a service without competition? be sure to explain why.

Answer 1

The FTC supports free and open markets by protecting competition, so that consumers reap the benefits of a vigorous marketplace: lower prices, higher quality products and services, and greater innovation

Answer 2

One of the main issues in economics is the extent to which the government should intervene in the economy. Free market economists argue that government intervention should be strictly limited as government intervention tends to cause an inefficient allocation of resources. However, others argue there is a strong case for government intervention in different fields, such as externalities, public goods and monopoly power