MARKET ECONOMIES Выполнила: Кожанова Елена РСО-121
ABOUT In MARKET ECONOMIES. a market economy, consumers and businesses jointly answer the questions of what, how, and for whom to produce. In a market economy, people make decisions in their own best interest. A market is characterized by a great deal of freedom.
Market economy also feature the private ownership of resources. Many of the most prosperous economies in the world, are based on markets and capitalism.
ADVANTAGES OF A MARKET ECONOMY The first advantage of a market economy is its high degree of individual freedom. The second advantage of a market economy is that it adjusts gradually to change over time. A third advantage is the relatively small degree of government interference.
A fourth advantage is that decision making is decentralized. A fifth advantage of the market economy is the variety of goods and services. A sixth advantage is the high degree of consumer satisfaction.
DISADVANTAGES OF A MARKET ECONOMY The market is not able to resist the monopolistic tendencies. Market is not interested or capable of producing public goods. The market has the ability to provide social guarantees.
The modern market is fraught with the danger of unemployment. The market mechanism generates incomplete and asymmetric information
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