ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Doesn’t always provide the basic needs to everyone in a society (the weak, sick, disabled, or elderly).
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Disadvantage of Traditional Economy
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Disadvantage of Market Economy
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -The disadvantages of a market economy include monopolies, no government intervention, poor working conditions, and unemployment.
Detailed explanation-2: -Solved Question on Basic Problems Of An Economy What to produce? How to produce? For whom to produce? What provisions (if any) are to be made for economic growth?
Detailed explanation-3: -What to produce. How to produce. For whom to produce.
Detailed explanation-4: -Market economies tend to produce inferior goods and services. It harms the environment. Outsourcing is frequent in a market economy. Commodity prices typically rise in a market economy. Economy imbalances occur frequently within a market economy. 24-Jul-2017
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