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Explain market failure

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Reference no: EM133338414

1. List at least 3 characteristics of the Market System and explain why each of these characteristics would help motivate, direct, and/or coordinate the economy.

2. Explain why a society that puts more resources towards producing capital goods may have more future economic growth than societies that put resources toward producing consumer goods.

3. Explain market failure. What is government's role when market failure occurs? Explain why.

Reference no: EM133338414

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