What is meant by "state intervention" in economic systems? 🔊
"State intervention" in economic systems refers to the measures taken by government authorities to influence or regulate economic activity. This can include actions like implementing regulations, providing subsidies, and initiating public services. State intervention aims to achieve economic stability, promote social welfare, and correct market failures. The extent and nature of intervention can vary widely across political ideologies, from laissez-faire approaches, advocating minimal intervention, to more socialist models, emphasizing significant government involvement to address inequality and manage resources.


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