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Essay / Research Paper Abstract
An 8 page paper including an annotated bibliography. The writer begins by explaining what a market economy is and some of the characteristics of such an economy. The essay offers information about the liberal-conservative debate on the government's role in a market economy. The writer concludes government needs to play a bigger role in this country and names just two areas where the government needs to intercede. Bibliography lists 5 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGgvfmk.RTF
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Unformatted sample text from the term paper:
and how to distribute those goods and consumers decide what they will purchase. The producer is not forced to produce any specific item and the consumer is not forced to
purchase any specific item. These transactions take place under a free price system where the price is determined based on the competitive environment. This is more or less what Americas
Founding Fathers had in mind at the beginning. In reality, there is no free market economy in the entire world. although the absolute definition of a market economy and
the criteria that would guide a market economy have never been agreed upon, there are some characteristics we might expect to find in such an economy. These might include: governments
policies do not interfere in the normal performance of the market; the government does not control production; governments role in international trade is limited; government does not own a preponderance
of enterprises; interest rates are the same for all types of businesses as are the currency exchange rates (China Internet Information Center, 2003). Historically, there has been strong debate
about the degree of involvement the government should have in businesses. Conservatives, for the most part, believe the governments role should be severely limited (Center for Economic Education, 2007). Conservatives
do not believe government is the best resource for solving social or economic problems and that government involvement decreases both social and economic freedom (Center for Economic Education, 2007). To
support their argument, they point out the slowness of getting anything done is a bureaucratic government and they also charge that government is already too big (Center for Economic Education,
2007). Liberals, by contrast, generally feel that the market cannot solve the economic and social problems in the society and argue the government can overcome many of the obstacles (Center
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