Class 6

the Executive BranchThe power of the Executive Branch is vested in the President of the United States, who also acts as head of state and Commander-in-Chief of the armed forces.

The Legislative BranchThe Legislative Branch enacts legislation, confirms or rejects Presidential appointments, and has the authority to declare war. This branch includes Congress (the Senate and House of Representatives) and several agencies that provide support services to Congress.

Economists, however, identify six major functions of governments in market economies. Governments provide the legal and social framework, maintain competition, provide public goods and services, redistribute income, correct for externalities, and stabilize the economy.

Governments influence the economy by changing the level and types of taxes, the extent and composition of spending, and the degree and form of borrowing.

Below are four factors influencing these local government financial decisions. Political (Citizen) Involvement. … Economic Influences. … Social and Demographic Change. … Legal and Intergovernmental Matters.

A government policy is a rule or principle that hopefully better guides decisions, resulting in positive outcomes that enhance the community or unit. Government policies contain the reasons things are to be done in a certain way and why.

The government takes the major decisions regarding the economic policies for the country. It could be the liberalization of trade, an increase in foreign investment and FDI, deregulation of markets, decreasing the tariffs and other import taxes, and other aspects of reforms.

A command economy is an economic system where the government has control over the production and pricing of goods and services.

Good Governance: Definition and Characteristics Participation. … Rule of law. … Transparency. … Responsiveness. … Consensus oriented. … Equity and inclusiveness. … Effectiveness and efficiency. … Accountability.

Bad governance is centralised around the idea of not only corruption within a system but a lack of transparency and accountability, arbitrary policy making and the cheating of those who are governed.