Very few economists would favor centrally planned economies, and few would favor an economy completely governed by

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Very few economists would favor centrally planned economies, and few would favor an economy completely governed by markets. Why is a certain level of government intervention needed, even in market economies?

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Economics

ISBN: 9781292430645

8th Global Edition

Authors: R. Glenn Hubbard, Anthony P. O'Brien

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Question Posted: Mar 05, 2024 05:00 AM

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Very few economists would favor centrally planned economies, and few would favor an economy completely governed by

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Here are some key reasons why a certain level of government intervention is considered necessary even in market economies 1 Market Failures Imperfect competition Markets are not always perfectly compe...View the full answer

Economics

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