100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
ECS 1601 ASSIGNMENT 2 SEMESTER 1 2023 £4.10   Add to cart

Exam (elaborations)

ECS 1601 ASSIGNMENT 2 SEMESTER 1 2023

 7 views  0 purchase
  • Module
  • Institution

Three broad functions of government:  the allocative function, which refers to the role of government in correcting market failure and achieving amore efficient allocation of resources  the distributive function, which refers to the steps taken by government to achieve a more equitable or...

[Show more]

Preview 2 out of 6  pages

  • June 2, 2023
  • 6
  • 2022/2023
  • Exam (elaborations)
  • Only questions
avatar-seller
ECS 1601
ECS1601
ASSIGNMENT
ASSIGNMENT22SEMESTER
SEMESTER112020
2023
UNIQUE NUMBER:765264
UNIQUE NUMBER: 765264


PREVIEW OF QUESTION 1
1. 3 Reference: Prescribed book PG 277




This study source was downloaded by 100000838690865 from CourseHero.com on 06-02-2023 09:50:02 GMT -05:00


https://www.coursehero.com/file/157111247/ECS1601-Assignment-2-Semester-1-2020pdf/

, 1. 3 Reference: Prescribed book PG 277




2. 3 Reference: Prescribed book PG 286

Three broad functions of government:
 the allocative function, which refers to the role of government in correcting market failure and
achieving a more efficient allocation of resources
 the distributive function, which refers to the steps taken by government to achieve a more
equitable or socially acceptable distribution of income than that generated by market forces
 the stabilisation function, which refers to the measures taken by government to promote
macroeconomic stability (eg full employment, price stability and balance of payments
stability)

3. 2 Reference: Prescribed book PG 286

How government intervenes
 public provision of goods and services
 through its role as a market participant.
 government spending is a powerful tool
 taxation
 regulation.

4. 3 Reference: Prescribed book PG 288

Nationalisation means that the government takes over the ownership or management of private
enterprise (with or without compensation). In other words nationalisation is the transfer of ownership
from private enterprise to government.

5. 4 Reference: Prescribed book PG 372

An expansionary fiscal policy is applied when the government (in the person of the Minister of
Finance) increases government spending (G) and/or reduces taxes (T). This is illustrated by a




This study source was downloaded by 100000838690865 from CourseHero.com on 06-02-2023 09:50:02 GMT -05:00


https://www.coursehero.com/file/157111247/ECS1601-Assignment-2-Semester-1-2020pdf/

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsRevision. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £4.10. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73918 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£4.10
  • (0)
  Add to cart