Assumptions Underlying the Competitive Model and Implications for Markets and Government

1)      Economists have often
taken the position that in some situations, government intervention is in
society’s best interests. What are those situations?

 

2)      Briefly describe some
of the assumptions of market competition in healthcare.

 

3)      Briefly describe
public choice theory.

 

4)      What are some of the
criticisms of public choice theory?

 

5)      Describe what is
meant by welfare economics.

 

6)      Describe the concept
of “economic theory of regulation.”

 

7)      What are some of the
criticisms of economic theory of regulation?

 

8)      Describe how free
markets and government can interact appropriately for the betterment of both.

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