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Market types and monetary policy
Essay specific features
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Written by:
John R
Date added:
July 28, 2014
Level:
University
Grade:
A
No of pages / words:
10 / 2621
Was viewed:
7641 times
Rating of current essay:
Essay content:
The USA would be classified as a market economy since their system is based on wealth and power exercised by the individual and corporations. The price mechanism decides prices in the market if there is a shortage of a good or service then the price rises and if there is a surplus then the price will drop...
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Also because of the interaction between supply and demand prices will fluctuate but will always seek to head towards the equilibrium price. The downside of a market enjoy is that it encourages socially unacceptable behavior in terms of porn and pedophiles. The market economy is a free for all system where workers try to maximize their wages relative to the work they are doing...
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