1.

Explain What Are The Advantages Of Leaving The Allocation Of A Country Resources To The Price Mechanism?

Answer»

The main conditions required are:

  1. Either a finite number of AGENTS or goods.
  2. No externalities - That is, the consumption of one person should not harm or benefit anyone else.
  3. No matter how much a person is consuming, they must be able to be MADE SLIGHTLY HAPPIER by consuming a BIT more of something.

The main conditions required are:


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