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Strengths and weaknesses of the three basic types of economies Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Agoria, a nation with a pure market economy

Strengths and weaknesses of the three basic types of economies Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Agoria, a nation with a pure market economy. Which of the following would you include in your report as weaknesses of Agoria's economy? Check all that apply. Firms have no incentive to produce the so-called public goods, such as national defense, because private firms cannot prevent nonpayers from enjoying the benefits of public goods. U Occupational choices can be restricted. People with no resources to sell could starve (income is distributed unequally). Businesses may be reluctant to hire anyone outside the family because outsiders are less trusted, which limits business growth.

Apr 12 2021 View more View Less

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