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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Why do you think that most modern countries’ economies are a mix of command and market types?

To determine

Why most modern countries are a mix of command and market types?

Explanation

The market economies can be very good in raising the standards of living. But still the markets have some failures that can only be solved with government intervention. The market failure is a serious problem in economics and can only be solved with the help of government.

For example, pollution is common problem in which market fails...

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