The main reason I am stating this point is because 1) The free market still has competition to improve the product as well as set prices, while the government can intervene to make sure these products aren’t harmful, like put lead in their products. 2) Market prices are very well positioned and regulated to ensure that the price of the product on the market does not go over its limit, or it’s actual price. 3) It provides fair competition in the market, and the quality and quantity of the products being sold are not compromised.
When the free market still has competition, it means that the people that are running the company, or the people that own it have a say in what is being done to their products, but so does the government. I think that this is a very fair option for the economy, all over the world, and every one can benefit from this. The governments job is to make sure that nothing is being sold that could cause harm to anybody, including kids. In the past, products that have been sold on the market economy have been recalled, because of different harmful things. Most recently, lead has been recalled in many different things, including hockey sticks and toys.
The governments job is too cease these harmful objects and replace them with ones that can’t cause any harm. Most countries in the world at this point are ran by a mixed economy, because in a mixed economy, one person or the government does not own everything, as I stated before. This means that, for example, if you owned a herd of cows, since it is a mixed economy, you own the herd but you would still have to follow the government regulations. As oppose to: a market economy, where businesses and consumers decide what they will produce or purchase.
The Essay on Market Economy Government Economic Resources
The economic problem occurs when society has unlimited wants, yet limited resources available. This problem affects the economies of individuals, businesses and governments. Wants can be defined as materialistic desires of individuals or the community, which are desired because they give utility. Resources enable an economy to produce, and include the four factors of production: land, labour, ...
A planned economy is even worse, because the government has full control over the products being placed on the market. In conclusion, it should now be a fact that the market economy is the most valuable choice for consumers all over the world. It is what makes Canada, Sweden, Italy, etc. Such great places to live in. The mixed economy is taking over the economical aspect of the governments, and I hope to soon see a change that has been made by different countries introducing the mixed economy. I have stated why the mixed economy is the best choice for consumers, and I hope that everyone will soon see my point as to why.
