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Essay

The Modified Market Economy

Essay specific features

 

Issue:

Business

 

Written by:

Mahalia N

 

Date added:

September 21, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 513

 

Was viewed:

5739 times

 

Rating of current essay:

 
Essay content:

The Australian economy would be classed as a modified market, as we have a certain degree of government intervention, and this is something we should feel lucky for in our country, because due to this we are able to experience the free, fair lifestyle which we enjoy. The emergence of this kind of economy is mainly due to weaknesses in the market economy which, with out regulation, becomes an economy mainly concentrated on the wealthy people...
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The basic reason for the modified market economy is that the free market does not produce an efficient allocation of resources, and that the free market does not distribute output in a socially desirable way. For example in a modified market, the government regulate the flow a income a bit so that not only the rich make money...
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