Market Economic System
Gbogbo ọrọ náà
Imagine an economy with no central plan: no official deciding how many shoes to make or what bread should cost. Instead, the choices of millions of buyers and sellers, guided only by prices, decide everything. That is a market economic system, and for all its strengths it also has real weaknesses.
In this lesson you will weigh up the market system fairly: the efficiency, choice and incentives it brings, set against the inequality, missing public goods and pollution it can leave behind. By the end you will be able to argue both sides and reach a balanced judgement, exactly what evaluation questions demand.
Ebumnobi
- advantages of the market economic system
- disadvantages of the market economic system
Akọmọ Ojú-ẹkọ
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ayẹwo Ẹkọ
Ekele diri gi maka imecha ihe karịrị na Market Economic System. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- In a market economic system, resources are allocated mainly by: A. the government B. the price mechanism C. a central plan D. trade unions Answer: B
- Which is an advantage of the market system? A. equal incomes B. provision of public goods C. efficiency through competition D. no pollution Answer: C
- A market system tends NOT to provide: A. luxury cars B. fashion clothing C. national defence D. mobile phones Answer: C
- A disadvantage of the market system is that it: A. responds to consumer demand B. can create great inequality C. encourages innovation D. lowers costs Answer: B
- The idea that consumer spending decides what is produced is called: A. market failure B. consumer sovereignty C. an externality D. a public good Answer: B
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Àwọn Ìwé Tó Dáa Láti Kà
Meecha Ajụjụ Ule Ọmarịcha
Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Market Economic System? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.
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