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Essay / Research Paper Abstract
A paper which looks at the differences between the political protection of competition, and the global free market, from the perspective that both are attempting to achieve the same aim through different methods.
Page Count:
5 pages (~225 words per page)
File: JL5_JLfreemar.rtf
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Unformatted sample text from the term paper:
it also possible to see the two perspectives as different sides of the same coin, in the sense that they are seeking to achieve the same end but by different
means. In order to establish whether or not this is in fact the case, it is useful to look at the two methodologies in more detail and consider if they
do, in fact, have the same ultimate objective.
For example, it is frequently argued that only in a free market economy can there be genuine competition, since the market is effectively self-regulating. If commodities are in short supply
in comparison to the number of potential customers, then the price will increase and the greater profits which ensue will enable production to increase also. If, on the other hand,
there is an excess of the commodity then the price will fall which encourages a larger buying section which has the effect of clearing the excess. In the meantime, the
lower prices discourage new sellers from entering the market and causing a larger glut. The free market vests control in the buyers and sellers themselves, who are able to come
to a consensus as to how resources are distributed and the kind of commodities which are produced and sold. Consequently, the market is flexible and responsive to changes in demand
and the availability of resources, unlike the controlled market in which prices are set by a regulatory body or by government, and cannot respond as efficiently to changes.
If production falls short of demand then rationing is enforced, whereas if
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