The areas of economy where government's intervention is desirable?
Answer:
Government intervention is very desirable on sectors where market forces cannot work on their own to promote the greatest welfare for society. Examples of these include government regulation in pollution emmission, as well as control on harvesting of open access resources like fishery, mining and forestry. In addition, the government might also act as a catalyst in science and technology innovation thorugh the provision of incentives.
Areas where the public welfare is at stake, like oceans, the air, public land, etc. Since no one person owns them, they have a tendency to be abused.
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