Market types and monetary policy
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Title: Market types and monetary policy

Essay Details:

Subject: Business
Author: Charles G
Date: December 23, 2015
Level: University
Grade:
Length: 9 / 2621

Essay text:

The USA would be classified as a market economy since their system is based on wealth and power exercised by the individual and corporations. The price mechanism decides prices in the market if there is a shortage of a good or service then the price rises and if there is a surplus then the price will drop. Also because of the interaction between supply and demand prices will fluctuate but will always seek to head towards the equilibrium price. The downside of a market enjoy is that it encourages socially unacceptable behavior in terms of porn and pedophiles. The market economy is a free for all system where workers try to maximize their wages relative to the work they are doing...

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