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Why do some people believe that a mixed economic system solves basic economic problems?
Ans) It is due to the private sector and public sector both have a say in answering the basic economic questions, therefore, there will be a degree of high efficiency (because of the private sector involvement) and social welfare too (because of the public sector involvement).
It permits the Government to intervene when the economy faces market failure. The mixed economic system permits markets to operate freely until it fails to assign resources efficiently, after this, the government agencies, such as the EU Competition Commission, are able to correct for these failures. If this had been a totally free economic system, Government agencies would not have the means of power to be able to intervene.
An Exception: OECD Economies It isn't inevitable that there be such divergence. United States--with its 14 to 25-fold increase in output per worker over the years since 1870-ha
Fluctuations in Growth Rates: Fluctuations in year-to-year growth rates in early stages were very marked, which indicated that the economy had failed to create conditions cond
What are the major differences between the equilibrium of profit maximiser and sales revenue maximiser?
Budget Constraints * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget
Suppose the price elasticity of demand for extra dark chocolate truffles is -6. Hold other things constant , if price for Extra Dark Chocolate truffles is decrease by 3%, what wil
What is the importance of microeconomics in study of managerial economics? Normal 0 false false false EN-IN X-NONE X-NONE
specific characteristics of human existance
Suppose a firm faces two markets for the same product. In market A, the demand function is PA=60-QA, while in market B the demand function is PB=36-0.5QB. The total cost function i
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Government Policy Business Cycle Business cycles create instability in the economy. The period of boom or rising business activities is characterised by increase in output, emp
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