What is an example of manifest functions for economics and what is an example of latent functions for economics?
Answer (2)
HiIn economics, manifest functions refer to the intended and observable outcomes of economic activities, while latent functions are the unintended or hidden consequences.Manifest Function ExampleJob creation: A government policy to invest in infrastructure (like building roads or bridges) has the manifest function of creating employment and boosting the economy through direct jobs and income generation.Latent Function ExampleSocial inequality: The same infrastructure investment could unintentionally widen the gap between high-income and low-income areas, with wealthier regions benefiting more from improved infrastructure while poorer areas may be left behind, increasing inequality. This outcome is not the direct goal of the policy, but it can be a consequence.
