Becoming informed about economics can help a person understand various aspects of how an economy functions. Here are the explanations for the given statements:
1. Reasons a command economy is ideal: A command economy is an economic system where the government has central control over all economic activities. By studying economics, one can understand the advantages and disadvantages of different economic systems. For a command economy, the reasons it may be considered ideal include the potential for centralized decision-making, which can lead to efficient allocation of resources and coordination of production. However, it is important to note that command economies also have drawbacks, such as limited individual freedom and potential for inefficiencies.
2. Role of government in regulating production: Economics helps us understand the role of government in regulating production. Governments often intervene in the economy to ensure fair competition, protect consumers, and promote economic stability. They can regulate production through policies such as setting safety standards, enforcing environmental regulations, and implementing trade restrictions. By studying economics, one can grasp the importance of government intervention in promoting a well-functioning and sustainable economy.
3. Why consumers receive tax revenue: It seems there might be some confusion in this statement. Consumers typically do not receive tax revenue directly. Instead, tax revenue is collected by the government from individuals and businesses to fund public goods and services, such as infrastructure, education, healthcare, and defense. Consumers indirectly benefit from tax revenue through the provision of these public goods and services, which contribute to a better quality of life and a functioning society.
4. Reasons an economy must always be complete: The statement about an economy always being complete is not accurate. It is possible that the term "complete" is referring to the idea of all economic activities being accounted for. However, economies can have gaps or inefficiencies due to factors like unemployment, market failures, or resource misallocation. The study of economics helps identify and address these issues to achieve a more efficient and complete economy.