THE ADVANTAGES OF FREE MARKET ( DISADVANTAGES OF COMMAND ECONOMY ) 1.Efficiency. free market economies are very competitive. Most of their industries are assumed to be perfectly competitive and so allocative and productive efficiency will occur.As their main aim is profit motive so free market economies allocate their resources more efficiently as compared to planned economy. Decisions about what to produce are made by the people who will actually consume the goods. Planners are less likely to
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subsidies: Farm subsidies serve as welfare for well-off farm owners such as David Rockefeller and Edgar Bronfman. Farm subsidies transfer earnings from average taxpaying citizens to farmers that are millionaires. It argued that farm subsidies damage the economy by discouraging farmers efficiency and making it difficult for small farmers to compete. Farm subsidies encourage farmers in the United State to focus solely on farm produce with subsidies such as Corn‚ which in turn avoids diversification of farmer
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consumption‚ support local industry‚ and support export (4). Besides the tax‚ government subsidies and price control may seem like a good idea for consumers‚ but these acts actually lead to effects that are unwanted and harmful. In a free-market economy‚ prices help the allocation of resources to operate properly. When the quantity of supply curve meets with the quantity of demand curve‚ prices can be determined. Likewise‚ when supply or demand changes‚ price will change too. All this happens only
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15 3.1.Factors Leading to India’s Success in Services 17 3.1.1.Passive Role of Government 17 3.1.2.English 18 3.1.3.Education 18 3.1.4.Entrepreneurship 19 3.2.Lessons for China from Indian Services Success Story 20 4.Shortcoming of Indian Economy compared to China 20 4.1.Problems of skipping the Industrial revolution 21 4.2.GR-2-SER (Green Revolution – II to Services) 24 4.2.1.Advantages 25 4.2.2.Disadvantages 25 4.2.3.Green Revolution – 2 26 4.3.GR-2-MAN-2-SER (Green revolution to manufacturing
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Nigerian Business Environment Ayeni Adewunmi Hannah & Chikwendu David Outline General Facts Culture & Religion Political System Economic System Industrial Structure Business & Investment Opportunities GENERAL FACTS Location West-Africa. Capital Abuja Population: 2013 Estimate - 174‚507‚539 2006 Census - 140‚431‚790 7th Most Populous country in the world Area: 923‚768km2 356‚667 sq mi Languages Yoruba Igbo Hausa English is widely understood among the educated and
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Ruling a country effectively is executed through a variety of methods. Lao-Tzu‚ a follower of Taoism‚ expresses his belief on the most efficient way to govern. "The more prohibitions you have‚ the less virtuous people will be. The more weapons you have‚ the less secure people will be. The more subsidies you have‚ the less self-reliant people will be" (25). This quote from Lao-Tzu can be interpreted many different ways. The author discusses what he feels the role of a leader should be‚ the restrictions
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Directive Principles of State Policy and Fundamental Duties MODULE - 2 Aspects of the Constitution of India 7 DIRECTIVE PRINCIPLES OF STATE POLICY AND FUNDAMENTAL DUTIES Notes The Constitution of India aims to establish not only political democracy but also socioeconomic justice to the people to establish a welfare state. With this purpose in mind‚ our Constitution lays down desirable principle and guidelines in Part IV. These provisions are known as the Directive Principle of
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Assignment On “Globalization and its Impact on Bangladesh Economy” (ECO 360‚ Section: 1) Assignment on “Globalization and its impact on Bangladesh Economy”. Subject: ECO 360 (Socio-Economics Profile of Bangladesh) Section: 1 Submitted To: Muhammad Mahboob Ali Adjunct Faculty‚ Department of Economics‚ East West University. Submitted By: Name | ID
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Business Brief The problem of state presence in socio-economic life has always been and will be the subject of heated discussions among economists‚ sociologists and political scientists. This issue is not only an ideological one‚ but also of significant importance for the state functioning. It is undisputable that the implementation of particular tasks by the state turns out indispensable for the functioning of society‚ however‚ in terms of market existence the underlying advantages‚ to be discussed
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Public Disclosure Authorized 65980 V I E T N A M D E V E L O P M E N T R E P O RT 2 0 1 2 MARKET ECONOMY FOR A MIDDLE-INCOME VIETNAM Joint Donor Report to the Vietnam Consultative Group Meeting December 06‚ 2011 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Consultation Draft Vietnam Development Report 2012 MARKET ECONOMY FOR A MIDDLE-INCOME VIETNAM Joint Donor Report to the Vietnam Consultative Group Meeting December 06‚ 2011
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