Mention any two roles of the government in assisting households as consumers of goods and services?

Question: Mention any two roles of the government in assisting households as consumers of goods and services?

As consumers of goods and services, households depend on the government to perform various roles that can affect their welfare and satisfaction. In this blog post, we will discuss two of these roles: regulation and provision.

Regulation refers to the government's ability to set rules and standards for the production, distribution and consumption of goods and services. For example, the government can regulate the quality and safety of products, the environmental impact of production, the fair competition among producers, and the protection of consumer rights. Regulation can help households avoid harmful or fraudulent products, access reliable information, and benefit from lower prices and higher quality.

Provision refers to the government's ability to provide certain goods and services directly to households or subsidize their provision by other entities. For example, the government can provide public goods such as national defense, roads, and parks, which are non-excludable and non-rivalrous. The government can also provide merit goods such as education, health care, and social security, which are deemed to have positive externalities or social benefits. Provision can help households access essential or desirable goods and services that might otherwise be underprovided or unaffordable by the market.

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