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 are
distributed throughout the whole economic system. Thus, the market is
the predominant and
determining link between producers of goods and services and
consumers. Accordingly, markets, as
an exchange of goods and services that takes place as a result of
buyers and sellers interactions, are
generally 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 to
various reasons. One such social problem is illegal drugs. Another
example is environmental such as
pollutions. For an additional example for a social problem, where
supply and demand is not allowed