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Analyse the Behaviour of Market Forces
What is Microeconomics? ...
A market involves something being traded, between a buyer and a seller. In a free and competitive market, it is the actions of the people, the forces of demand and supply that decide what happens. ... It means effective market demand. ... Just as demand means effective market demand, so supply means effective market supply. ... The three most important systems are known as the market economy, the command economy, and the mixed economy. The Market Economy is one in which decisions about what is produced, how it is produced and who consumes it are left entirely to individual producers and consumers. ... The problem with a Market Economy is that the rich have more say on what is produced than the poor do.
Approximate Word count = 1039 Approximate Pages = 4.2 (250 words per page double spaced)
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