Policies that provide governments with economic controls should be evaluated on their , not on the basis of the promises of their supporters or the theories of economists that actual effects, which can be positive or negative
- When limits on individuals are placed, an economic control is said to have been formed.
- A person may be a producer or consumer. Thus, the control limits the options available to both producers and consumers.
- Land, labor, capital, and entrepreneurship are the four components of production according to economists. These could be seen as the foundation of an economy.
- Governments affect the economy via altering tax rates and types, spending amounts and types, and borrowing amounts and types. Both directly and indirectly, governments have an impact on how resources are employed in the economy.
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