Reference no: EM133291305
Source 1
The weakness of the mixed economy is that it does not leave entrepreneurs the freedom they require to adequately stimulate the economy. Instead, those people engaged in business are frustrated in their efforts by a tangle of government regulations and unnecessary restrictions. As a result, those nations that emphasize free enterprise develop much more rapidly than those that hamper the efforts of the true capitalist.
Is this a right wing, left wing or mixed economic ideology?
Source 2
The economies of countries that give free rein to capitalists develop more rapidly. There is ample statistical data to support this claim. However, there is a price to be paid for this rapid development and economic freedom. First of all, the lack of regulation in a pure market economy results in serious damage to the environment. In addition, there is a human price to pay as workers are exploited so that a few aggressive individuals can enrich themselves. Therefore the economy requires substantial levels of government controls.
Is this a right wing, left wing or mixed economic ideology?
Source 3
What is required in a modern economy is not an absence of government regulation, but a system in which the business community is free to create new wealth while controlled by safeguards that protect society in general. Such a society would ensure that consumers and workers are protected from the perils of unregulated capitalism. In addition, the average citizen would share in the wealth created by the entrepreneurial class.
Is this a right wing, left wing or mixed economic ideology?
1. Which of the following is not an issue of concern for all three of the above sources
- Protecting workers from hazards of capitalism
- The most effective way to stimulate the modern economy
- The extent that government should involve itself in the economy
- Finding an economic system that is most capable of creating wealth
2. Which of the following rows (A, B or C) accurately identifies where each of the sources would sit on the economic spectrum?
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Source One
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Source Two
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Source Three
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A
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Left Wing
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Center
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Right Wing
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B
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Right Wing
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Left Wing
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Center
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C
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Center
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Right Wing
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Left Wing
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