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market forces |
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market forcesIn economics, the forces of demand (a want backed by the ability to pay) and supply (the willingness and ability to supply). Some economists argue that resources are allocated most efficiently when producers are able to respond to consumer demand without intervention from ‘distortions’ such as governments and trade unions, and that profits and competition between firms and individuals provide sufficient incentives to produce efficiently (monetarism). Critics of this view suggest that market forces alone may not be efficient because they fail to consider social costs and benefits, and may also fail to provide for the needs of the less well off, since private firms aiming to make a profit respond to the ability to pay. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Markelius, Sven Gottfrid Marker, Chris market Market Bosworth market capitalization Market Drayton market economy market forces Market Garden, Operation Market Harborough market mechanism market orientation market penetration market research market saturation |
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