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☆☆☆☆☆It is not in china but in Russia. Kawkid
an economic side effect that generates unexpected benefits
Vladimir Lenin
The competition in market economies encourages both quality and low prices.
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Natural resources are what human beings use to create goods and facilitate some services. Examples of natural resources may include lakes, minerals, and plants.
the increasing costs resulting in increasingly less output
It means underutilization of resources.
consumers will spend more money in the market.
Government is added into the circular flow model of a mixed economy.
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Law of Comparative Advantage
Law of Comparative advantage
Its known as a trade surplus
Dictatorship.
Private ownership of property is essential to a free market economy. Without private ownership of property a free market economy cannot exist.
uses its resources to make the most goods and services.
Friedrich Hayek argued that market economies, promote spontaneous order and that this allows for a more adequate split of resources that any plan could devise. As a result of decentralized individual decisions a spontaneous allocation of goods and services throughout the nation.
Government subsidies to private companies will allow those companies to export more of their goods
Strongest in the world.
Traditional
