'Consumers pay' presentation slideshows

Government intervention

Government intervention. The Role of Government in the Market Economy Up to this point, we have examined how free markets work. A free market is one without any government control or intervention. The price and output is determined by the interactions of buyers and sellers

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TAXATION AND SUBSIDY

A charge placed on the production of a good and service by the Government. For example petrol is taxed heavily by the Government. TAXATION AND SUBSIDY. TAX A charge placed on the production of a good and service by the Government. For example petrol is taxed heavily by the Government

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Extra Material for Chapter 4

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