What Are the Differences Between General-Purpose and Special-Purpose Governments? Give

question 22

Essay

What are the differences between general-purpose and special-purpose governments? Give examples of each.

---

Definitions:

Opportunity Cost

The forfeiture of potential benefits from other options when a particular choice is made.

Protective Tariffs

Tariffs imposed by a government to protect domestic industries from foreign competition by raising the price of imported goods.

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a person, group, or society.

Comparative Advantage

Comparative advantage is the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors.