Question

In countries where businesses are government owned or heavily controlled: Group of answer choices there is less incentive to work hard. the right amount of each good is produced. profits tend to be higher. the quality of goods is high but profits are low.

Answer 1

In the countries where businesses are government owned or controlled the quality of goods is high but profits are low.

What is the Government?

Government refers to the group of people who has the authority to rule the state, country or nation. There are several businesses being owned by the government such railways, nuclear power, oil and petroleum etc.

In those countries where the businesses are governed by the government there they produce goods of good quality but at the low prices as government are meant for the welfare of the people. This generate low profits to them.

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