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  • To what Extent Should the Government Intervene in the Economy to Protect the Public Interest?

     

    Essays2 Economics

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ID number:772054
 
Evaluation:
Published: 01.12.1996.
Language: English
Level: Secondary school
Literature: n/a
References: Not used
Extract

An economic system is an organized approach to producing and distributing goods and services. It is scarcity (in economic theory, the limited availability of resources and goods; the excess of wants over needs), which creates a need for economic systems. There are different types of economic systems in which all are believed to be the correct solution when it comes to scarcity. Capitalism is based on an approach to economics that promotes private enterprise. In a private enterprise system, you will see profit, initiative, competition, incentive and self-advancement. …

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