Q. Which of the following roles played by the state/government in an economy?
1.Regulator
2.Producer of private goods and services
3.Producer of public goods and services
Select the correct answer from below given codes:
Answer: C
Notes:
Explanation: If we look back into the economic history of the world, we see three possible roles for the state/government in an economy:
- As a regulator of the economic system.
- As a producer and/or supplier of private goods and services.
- As a producer and/or supplier of public goods or social goods.
Source: Ramesh Singh
