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Why do some people believe that the market system is the best mechanism for allocating scarce resources?
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What type of resources are located near Paris?
Near Paris, there is rich soil that allows their agriculture market to thrive
Is rice krispies a proper noun?
I believe it is. It is a copyrighted product with a world market. It is named and marketed as Rice Krispies (R).
Who are the global market leaders in vanadium?
In 1998 South Africa controlled 89 percent of the vanadium pentoxide market, China held a 6 percent market share, and Russia had 4 percent of the market.
On moshi monsters where is the market place on the map?
The market place is on sludge street
What is a steady drop in the market for stacks over time is called?
A bear market.
What is an advantage of using the market mechanism to allocate resources between alternative uses?
An advantage of the market mechanism over government intervention as a method of allocating resources is efficiency. The forces of demand and supply create automatic economic order.
Discuss the shortcomings of the market in allocating resources?
"Discuss the shortcomings of the market in allocating resources?" how the intervention of gov will attempt to correct the maket shortcoming?
What is the role of prices in allocating resources in a market economy?
This is from P.47 . right ?
The classical model depends on the market with instead of the government allocating the resources of the nation?
price
How does the market allocate resources?
Through price mechanism...
Is allocating scarce resources through the price mechanism in a pure capitalistic economy will ensure the fairest usage of resources true or false?
That depends on the meaning of the term "fairest". The true argument for a purely free market is not the "fair" usage of resources but the right of each man to use their own resources in accordance with their own reasoning about their lives. If you put a "fair" use of resources above that right you condemn mankind to slavery to whoever gets to define this concept.
The price mechanism theory is not an effective tool of allocating resources in less developed countries. discuss?
The price mechanism is based on the economical principles of supply and demand. It does not work with underdeveloped nations because poverty can interfere with basic supplies that people want and need. Therefore, it does not accurately allow the market to determine necessities since poor people may not be able to buy what they need.
What is technology in market mechanism?
What is technology in market mechanism?
Why competitive market is the better one allocating any good?
A market with a large number of buyers and sellers, such that no single buyer or ... A competitive market achieves efficiency in the allocation of scarce resources if ... any greater satisfaction by producing more of one good and less of another.
How are resources allocated under a capitalistic economy?
By the market mechanism...where they will be used most efficiently by those who can pay the price at equilibrium
What is the basic coordinating mechanism is a free market system?
the basic coordinating mechanism in a free market system is Price.
What is the importance of financial market?
The 'main' part of financial markets allocate resources within the economy. In a capitalist / free market system, they perform the role of economic central planner, "choosing" the best industries for a country to develop by allocating resources, in the same way . As such they are the core of free market economies. In addition, there is a derivatives market which shifts risk around, moving risk towards those best able to bear or control it. Finally, the currency market facilitates international trade
