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24 The Role of Government - Coggle Diagram
24 The Role of Government
govern intervenes differs due to
perceived extent of market failure
how effective government policy measures are
Functions of government (at local and national levels)
Public sector contracts and partnerships between the public and private sectors
As employer
Control price rise
Example of employment practice
Reduce unemployment
As producer
Protect key industries
Strategic industries
National champions
Produce products produced by National Monopoly
Produce essential products
International Role
Policy vary for MNCs
Member of trade blocs
Place restrictinos
Member of international organizations
promote free international trade
Influence on local economy
State-owned enterprises: wage? how much to produce?
Subsidize Private sectors