Answer :
The purpose of Government Regulation in a Mixed-Market economy is to protect consumers, workers, and the environment while ensuring fair competition. Specific areas include:
- Consumer Protection: Ensuring that products and services are safe, preventing deceptive practices, and regulating prices in essential industries.
- Worker Protection: Safeguarding labor rights, setting minimum wages, and regulating working conditions.
- Environmental Protection: Implementing policies to prevent environmental degradation and promote sustainable practices.
- Market Stability: Preventing monopolies, ensuring fair competition, and stabilizing the economy during downturns.
These regulations aim to balance the free market's efficiency with social welfare and fairness.
Read More - in 1776, an economics book was published to promote the concept of free enterprise.
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