Question: Please consider the following statement and answer the question John: Free market without government intervention is good to the society. Rene: I don't think so.Sometimes,

Please consider the following statement and answer the question

John: Free market without government intervention is good to the society.

Rene: I don't think so.Sometimes, it is necessary to have government to intervene in the market in order to improve the well-beings of people in the society.

Explain, with suitable diagrams and real-life examples, why both of them are correct.

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