Dransfield kap 7, 8, 14

Question 1

7. Efficiency + GOV?

Answer 1

making best use of existing recources -> by producing more with same with same quantity of input. Ivolves setting the most out of recurce & production capacity. “doing things right”.

Question 2

7. Effectivness + GOV?

Answer 2

Focus in how things can be done better in long-term. EX: being entreprenural, innovative -> better solutions. “doing the right things”

Question 3

7. Why GOV interveins the Economy?

Answer 3

to deliver goods/services that Privat Sector dont provide.
Also correct market failures, that dont provides benificial good to society.
Deliver goods/services that are more sutible for gov to handle, school, healtcare etc.

Question 4

7. How can GOV intervein the Economy?

Answer 4

By:
1. Regulation
2. Subsidies, taxes
3. As influencer
4. Gov as market leader
5. Public procurement - buying power
6. As supplier