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Essay

Environmental economic

Essay specific features

 

Issue:

Business

 

Written by:

Sharon E

 

Date added:

May 10, 2013

 

Level:

University

 

Grade:

B

 

No of pages / words:

8 / 2058

 

Was viewed:

3796 times

 

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Essay content:

These entities choose and express, trough economic exchanges, their preferences concerning the possibilities of rare resources' exploitation. The market system is considered when a set of competitive markets generates an efficient allocation of resources between and within economies. However, it is commonly known that market has some limits that we can call "market failures"...
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To economists, the term would normally be applied to situations where the inefficiency is particularly dramatic, or when it is suggested that non-market institutions (such as public policing and fire fighting) would be more efficient and wealth-producing than their private alternatives. On the other hand, many market failures are situations where market forces do not serve the perceived public interest...
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