Explain what is meant by this statement

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Q. 1. Theoretically market is an automatic, competitive, self regulating mechanism which provides for maximum consumer welfare also which best regulates use of factors of production. Explain what is meant by this statement.

Q. Imagine one real-life example of each: a multi-file volume also a multi-volume file. Include a description of media used for storage also a general description of data in file.

Reference no: EM1377174

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