Economists believe that government control of markets is most often the best way to organise economic activity because they lead to an efficient allocation of resources.

Question

Quizplus · Accepted Answer

Economists generally believe in the free market system, where supply and demand determine prices and resource allocation. While some government intervention may be necessary to mitigate market failures, such as market power and externalities, excessive government control can often lead to inefficiencies and distortions in the allocation of resources.

Economists Believe That Government Control of Markets Is Most Often