Through economic reasoning, explain the interrelationship with markets and government, while keeping the following statements in mind: Markets are useful, efficient and flexible institutions through which society can allocate its resources. Markets often produce unwanted results, such as pollution, lack of health care and poverty. Government can play a useful role to remedy the problem of unwanted results created by markets.

Through economic reasoning, explain the interrelationship with markets and government, while keeping the following statements in mind: Markets are useful, efficient and flexible institutions through which society can allocate its resources. Markets often produce unwanted results, such as pollution, lack of health care and poverty. Government can play a useful role to remedy the problem of unwanted results created by markets.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 27CTQ: Why do you think that most modern countries economies are a mix of command and market types?

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