State intervention
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Created by:
jennapayne on May 8, 2012
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5 terms
Terms | Definitions |
|---|---|
 Government aims to spread distortions by... | tackling market failures as a whole |
| However tackling more than one policy at once means that... | The gov. uses second best policies which cause distortions |
| Types of intervention | financial, regulation, public production, income transfers |
| sources of government failure | bureaucratic power, corruption, electoral pressures, incompetence, poor info, principle/agent problem, lobbying |
| Aims for horizontal equity | minimum standards, equality of access, equality of opportunity |
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