2441183
Description
Mind Map by 09serukenyahol, updated more than 1 year ago
|
Created by 09serukenyahol
about 9 years ago
|
|
Cons for free market economy
- Less advantaged people (orphans, sick, long-term
unemployed will not be able to provide themselves with
fundamental care
- Resources could possibly dry up/ be used to
quickly
- not benefitial for the environment
- not benefitial for the environment
- Excessive power for large firms could lead to them dominating industries
- loss of efficiency
- loss of efficiency
- Demerit goods (things that are bad for people e.g drugs/ child prostitution) will be
overprovided, driven by high prices and thus a high profit
motive
- OPPOSITE: Merit goods (things that are good for people e.g. education/health care) are underprovided, since they are
only produced for those who can afford them and not for all
- OPPOSITE: Merit goods (things that are good for people e.g. education/health care) are underprovided, since they are
only produced for those who can afford them and not for all
Want to create your own Mind Maps for free with GoConqr? Learn more.