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In this Assignment help,We explained the effects of Government Interventions, Taxation and Regulations of Economic Behavior
According to the team of Australian assignment help, Government intervention plays an important role in setting the price mechanism in order to change the allocation of resources in an economy. In the free market economy, scare resources are allocated through price mechanism. Government intervention is helpful in developing the living standard of people in the economy. Moreover, government intervention will improve the market failures in the economy by setting the appropriate price mechanism. Further, government will also provide equitable distribution of income and wealth in the economy, which will put positive impact on the performance of the economy.
Government regulations are helpful in controlling the illegal activities in the economy. Regulation regarding employment is helpful in offering legal protection for the workers by setting maximum working hours for them . It is analyzed that economy operates with the huge amount of regulations. Apart from this, regulations are helpful in introducing the fresh competition in the market. Government has appointed the regulators for the price control in different utilities such as telecommunication, gas, electricity and rail transport. Therefore, government regulations also put impact on the overall economy of the countries. We provides the best Australian assignment writing team.
In addition, taxation also plays an important role in developing the economy. Taxation policy affects the incentives of the individuals to earn additional income. It is identified that with the increase in tax rates, production of goods and services decline. On the other hand, government tax revenue does not increase as the tax rate increases. Further, taxation policy has also promoted the equitable distribution of income. Some people believes that reduction in tax will be helpful in increasing economic growth and prosperity, while some stated that reduction in tax will promote the unequal distribution of income. Thus, it is analyzed that taxation put both positive and negative impact on the economic behavior. You can check our assignment help sample for more detail.
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