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GB 540 Unit 1 Assignment Free Market and Ethical Issues
(Topic Poverty)

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Unit 1 Assignment: Free Market and Ethical Issues
Markets are mechanisms for coordinating the set of connections of
production operations that aredistributed throughout the whole
economic system. Thus, the market is the predominant and
determining link between producers of goods and services and
consumers. Accordingly, markets, asan exchange of goods and
services that takes place as a result of buyers and sellers interactions,
aregenerally considered the most efficient allocator of resources in the
market economy.However, free markets are not allowed to solve some
of the social problems in a society due tovarious reasons. One such
social problem is illegal drugs. Another example is environmental
such aspollutions. For an additional example for a social problem,
where supply and demand is not allowedto freely function, read the
“Last Word” feature on markets for human organs on Pages 68–69 of
yourtextbook. There are black markets (underground economy) for
human organs in some countries. Buta trade in human organs, based
on supply and demand, raises ethical issues and hence it indicates a
limitation of relying on markets to solve the social problems we have in
the society.Course outcome(s) practiced and assessed in this
Assignment:GB540-3: Evaluate ethical issues in economics.
DirectionsYou can write your research about social problems where
the free markets are not allowed to