Explain five advantages of government involvement in Business. (10mks)

  • Protection of citizens from exploitation/malpractices
  • Provision of essential goods/services at fair prices
  • Help solve unemployment problems hence improve standards of living.
  • Provision of investments which are essential but require large capital.
  • Creates competition forcing private sector to provide quality capital
  • Help reduce foreign domination of the country’s economy.
  • Promote fairness in distribution/use of resources
  • Control use of resources through conservation thus ensuring sustainability.
  • Income generation through taxation, licensing to finance government expenditure.
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