Difficult Cases for the Market and the Role of Government

Difficult Cases for the Market and the Role of Government

What is Economic Efficiency?

Marginal Concept in Economics

The Economic Roles of Government

1) Your Essay must be typed double space. APA Format

2) One-inch margins all around the page.

3) Font number 12, with words in Times New Roman.

4) Write it all in your own words, please do not copy / paste anything.

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Introduction

In the market economy system, the supply for both goods and services have a primary role to play in a competitive market. It is possible to have failures in a market economy system. Hence these market failures can be gradually corrected by a change in the structure of the market or relocation of resources. It is impossible to correct failures that affect the market economy system without understanding the underlying causes that are exactly causing the failures (Burkett, 2016). One of the major cause is inefficient allocation of goods and services. One can find out that in a market economy, private companies and individuals have more roles in the market economy compared to the government but one should exactly understand when the government needs to play a role in the economy.

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