Market Economy

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Centrally Planned vs Market Economy

It is a cardinal truth that, in order to make the best possible use of the economic resources available in any economy, three basic decisions need to be taken – what to produce, how to produce and f...

Published: 2021-09-30 05:25:04

The signaling and incentive functions of price in a market economy

In free Market economy allocation of resources is left to market forces of supply and demand which also can be referred to as price mechanism. And the prices are determined as a result of the interact...

Published: 2021-09-29 20:15:04