Question on: JAMB Economics - 2023
Government uses all of the following ways to redistribute income, except
A
Market intervention
B
Transfer earnings
C
Limited liability
D
Taxation
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Correct Option: C
Limited liability is not a method used by the government to redistribute income. Limited liability is a legal concept that protects the personal assets of shareholders from the debts and liabilities of a business. On the other hand, government redistributes income through measures such as market intervention (regulations), transfer payments (like social welfare programs), and taxation (progressive tax systems).
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