Describe how market capitalist systems tend to generate efficient allocations of resources. Is efficiency an important goal

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Describe how market capitalist systems tend to generate efficient allocations of resources. Is efficiency an important goal for economic systems and policy makers?

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Introduction To Economics Social Issues And Economic Thinking

ISBN: 9780470574782

1st Edition

Authors: Wendy A. Stock

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Question Posted: Oct 28, 2023 12:04 AM

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Describe how market capitalist systems tend to generate efficient allocations of resources. Is efficiency an important goal

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Market capitalist systems tend to generate efficient allocations of resources through a combination of competition price mechanisms and profit incentives Efficiency is indeed an important goal for eco...View the full answer

Introduction To Economics Social Issues And Economic Thinking

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