Question: Evaluate the statement: Production should be for people and not for profit. Think about the following in formulating your answer: If production is profitable, are

Evaluate the statement: "Production should be for people and not for profit."

Think about the following in formulating your answer:

If production is profitable, are consumers helped or hurt?

Would consumers be helped more if production resulted in a loss?

To what extent is there a conflict between the incentives of producers and the

incentives of consumers?

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