Discuss the Various Advantages and Disadvantages of Say Having the Government

question 53

Essay

Discuss the various advantages and disadvantages of say having the government using the Rule-Based System to justify all decisions made from various perspectives (e.g. ,economic responsibility,social responsibility,etc. ).What would be the advantages and disadvantages? Would this make our government more efficient (effective)or less efficient (effective)?

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Definitions:

Gains and Losses

The difference between the amount earned and the amount spent in buying, operating, or producing something.

Duopoly

A market structure characterized by two producers or sellers dominating the market.

Dominant Strategy

In game theory, a strategy that is optimal for a player, regardless of the strategies chosen by other players in the game.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies if other players keep their strategies unchanged.