Describe the three roles of the government within the economic flow

In summary, the economic functions of a government include:

Protection of private property and maintaining law and order / national defence.

Raising taxes.

Providing public services not provided in a free market (e.g. health care, education, street lighting)

Limit market failure through the regulation of markets, e.g. regulations on environment/labour markets/monopoly.

Macroeconomic management, e.g. use of fiscal and monetary policy to control business cycle – recession and inflation.

Reducing inequality/poverty.

Explanation:

1   Government Purchases

2    Imports and Exports

3    Investment

Explanation:

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what precedent do you see the ordinance of 1787 setting for the 1st amendment of the us constitution : )

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