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Market Mechanism, Market Failure and government intervention
Government Intervention to Correct Market Failure
Intervention 5 -Regulation
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Cards (5)
What is regulation?:
Regulation is undertaken by
government
to create
competitive
markets
What is regulation?
Regulation is undertaken by
government
to create
competitive
markets
Regulation will protect the interests of
consumers
so that they are not
exploited
by firms
Effective regulation will lead to greater
choice
and lower
prices
What will effective regulation lead to?
Effective regulation will lead to greater
choice
and
lower
prices