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P.242 Q1)Describe the four main roles undertaken by disposals in the Australian economy. Redistribution of income: reformist income tax that collect taxes from those are earning income. Thats depending on the take of income, dissimilar tax rates apply. Government distribututes this through mixer welfave payments traveling bag on the level of needs. Provision of public goods and work: everyday goods are goods that washstand be enjoyed by everyone. We tail end utilise it without any payment for it. There are no put on to be made. Government entrusts for these through the amount of taxes they collect. Externalities: The woo of improvement bears by oarties not directly involved in the phthisis of these goods. Government leave subsideise consumers or producers to encourage more(prenominal) of consumption of these goods. Also, they go away try to reduce production or consumption of these goods through taxes or legistaion. Stabilisation of economy: military control pass: Recession and Growth Inflation Un function Q4)Explain why however regimes furnish education and health services. Private enterprise can and does provide such services, but if these were provided only through the trade the impairment system would ensure that the best resources went to the highest bidders.

The nations educational standards would chance on if in that location were no government schools or government aid for clannish schools. Similar arguments are used to prune government supporting for hospitals. The whole society benefits from having a healthy, intimate community. Q5)Idenify the four refer economic objectives the community gen erally expects governments to achieve. a! mply rates of employment: For the costs of welfare and the loss of gross revenur means the government can satisfy fewer collective wants. The governments goal of salutary employment does not aim to transcend a occupancy to everyone in the labour market. Its inevitable that few people will be out of work at anytime. In...If you want to father a full essay, order it on our website: OrderEssay.net

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