Government Intervention

Definition

Government intervention refers to the active involvement of the government in economic or social affairs. It can take various forms such as regulations, policies, subsidies, or direct provision of goods and services.

Related terms

Regulation: Rules and restrictions imposed by the government on individuals or businesses to ensure compliance with standards or promote public welfare.

Subsidy: Financial assistance given by the government to certain industries or individuals to support their activities or encourage desired outcomes.

Public Goods: Goods or services that are provided by the government for free or at a subsidized cost because they benefit society as a whole (e.g., parks, libraries).