Define and Give an Example of a Government Corporation

question 76

Essay

Define and give an example of a government corporation.Why are some services provided by government corporations,whereas others are left to the private sector?

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Definitions:

Entrepreneurs

Individuals who initiate, manage, and assume the risks of a business venture in order to bring new products or services to the market.

Resource Allocations

The process of assigning and distributing available resources, such as time, money, and manpower, among various projects or departments to achieve organizational goals.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell.

Regulated Monopoly

A market structure where there is only one provider of a particular kind of product or service, which is regulated by the government to protect consumers’ interests.