S E12: When Governments Intervene - Taxes, Price & Quantity Regulations
Think Like An Economist
Are Government Subsidies Helping the Economy?
There are three ways the government gets involved in markets: taxes, mandates and subsidies. Mandate requires you to buy or sell a minimum amount of something. Subsidy is just a negative tax; it's shared between buyers and sellers. It's importantt that we haven't considered whether these policies are helping improve welfare,. potentially making the economy bigger and more efficient, or fair.
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