Embedded Files
--THINK AHEAD--
--THINK AHEAD--
"Both taxes/subsidies and price controls altered prices and incentives; however, the latter was fundamentally different from the former." "Can you think why?", "Hint: 'What ultimately determined the final market price?."
"Scroll down for the answer!"
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"That's right, taxes and subsidies still allow for the price to be influenced by demand and supply curves, whereas the price control is set by the government, so we could say the first methods are 'market-based,' whereas the second method is 'command & control-based,' or 'set by law/government.'"
--DEFINITION--
--DEFINITION--
'COMMAND & CONTROL' refers to a form of government intervention in which authorities set specific regulations, standards, or mandates—often backed by legal penalties.
--WORKED EXAMPLE--
--WORKED EXAMPLE--
The process follows these 3 stages...
1) Government identifies the issue: 'Smoking kills.'
2) Government decides to tackle it by going through a long legislative process to finalise a framework of objectives: 'Health Act 2006'
3) Government creates regulations to 'control' the change: 'Age restrictions,', 'ID requirements', 'Bans in public areas', 'Fines imposed on offenders'...
--TASK--
"Go to the Padlet below and find a real-world example of government command and control in action and use the format in my example.'
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