Very few economists would favor centrally planned economies, and few would favor an economy completely governed by
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Very few economists would favor centrally planned economies, and few would favor an economy completely governed by markets. Why is a certain level of government intervention needed, even in market economies?
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Here are some key reasons why a certain level of government intervention is considered necessary even in market economies 1 Market Failures Imperfect competition Markets are not always perfectly compe...View the full answer
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