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Describe the Advantages of a Market Economy

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´╗┐Advantages of a Market Economy There are many different types of economies because each economy is based on the values and political systems of the country. However, all countries struggle with scarcity and with how to best use their resources of land, labour and capital. In the command economy, the government decides what will be bought and sold. The market economy allows economic decisions to be made by individuals with very little government interference. In the mixed market economy, economic decision making is divided between government and individuals. I believe that the market economy best meets the needs of society. ...read more.


Another advantage to a marked economy is that it provides religious freedom. Because the government has very little influence, dictatorship is eliminated. No single monarch can decide what is religiously acceptable. The public can practice and preach what they wish, and no overly powerful individual, or small group of individuals, can bring down their fist against it. Religious restriction creates a fearful country; therefore, a country with freedom of religion will be united and stronger, able to overcome any obstacles as a unit. One last factor improved by a market economy, which is probably the least important but perhaps the highest valued, is recreation and relaxation. ...read more.


Therefore, people would have more relaxation time. Both of these factors would raise the moral of the citizens, resulting in a happy, cooperative, and peaceful society. The needs of society are best met by a market economy. The market economy covers a wide range of necessities including political freedom, religious freedom, and recreation and relaxation. This means that the country would be stable politically, unafraid to practice their faith and be who they are, and the public would have high moral. This would result in the country running smoothly. Also, due to the participation of the general public, it would be much closer to the coveted ideal of everyone being happy. Source:http://www.wmnet.org.uk/resources/stern/stern/commonimages/moneycogs.jpg ...read more.

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