The role of government can be summarised as follows except:

allocative function aimed at correcting market failure

distributive function to achieve equitable distribution of resources

stabilisation function aimed at promoting macroeconomic stability

allocative efficiency to achieve equitable distribution of resources

1 answer

The role of government can be summarized as follows except:

allocative efficiency to achieve equitable distribution of resources

Allocative efficiency refers to the optimal distribution of resources to maximize total welfare, but it's not specifically a role of government focused on achieving equitable distribution; rather, it is more closely associated with market outcomes. The other roles listed (allocative function, distributive function, and stabilization function) are indeed key functions that governments aim to perform.