Economics, market economies, government in economies, comparison of different economies. Pretty good detail, includes relevant 2004 examples... mostly about Australia but relevant to anyone
Title: Economics, market economies, government in economies, comparison of different economies. Pretty good detail, includes relevant 2004 examples... mostly about Australia but relevant to anyone
Category: /Business & Economy
Details: Words: 2440 | Pages: 9 (approximately 235 words/page)
Economics, market economies, government in economies, comparison of different economies. Pretty good detail, includes relevant 2004 examples... mostly about Australia but relevant to anyone
Category: /Business & Economy
Details: Words: 2440 | Pages: 9 (approximately 235 words/page)
How Economies Differ
The Market Economy
Introduction;
*<Tab/>Pure Market economy- all economic decisions made by individuals and private firms who are both motivated by self interest. Aka capitalist, free enterprise and laissez-faire (translation- 'let things be')
*<Tab/>In pure market economies those owning Capital and means of production get very rich, and those who do not get very poor, large socio-economic divisions.
*<Tab/&…showed first 75 words of 2440 total…
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…showed last 75 words of 2440 total…minimum standard of living for people unable to work or looking for work.
*<Tab/>In recent times, on a global scale, funding for welfare has gone down.
*<Tab/>Australia retains a stronger social safety net than either Japan or US
*<Tab/>Australian govt has tightened welfare system through 'means tests' (assessing sources of income/assets) and 'mutual obligation' (work for the dole) programs.
