ECO 203 Week 1 DQ 2 Role of Government (Ash Course)/uophelp
For more course tutorials visit www.uophelp.com Role of Government-Discussion 2 Economics is the study of how society chooses to allocate its scarce productive resources (labor, capital, land, entrepreneurial talent). In a mixed economy, elements of both central planning and market allocation of resources are used in allocating productive resources. The United States economy is a mixed economy, with a bias towards market allocation of resources. This means most resources are allocated in the private sector by way of markets.
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Role of Government-Discussion 2
Economics is the study of how society chooses to allocate its scarce productive resources (labor, capital, land, entrepreneurial talent).
In a mixed economy, elements of both central planning and market allocation of resources are used in allocating productive resources. The United States economy is a mixed economy, with a bias towards market allocation of resources. This means most resources are allocated in the private sector by way of markets.
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<strong>ECO</strong> <strong>203</strong> <strong>Week</strong> 1 <strong>DQ</strong> 2 <strong>Role</strong> <strong>of</strong> <strong>Government</strong> (<strong>Ash</strong> <strong>Course</strong>)<br />
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O-<strong>203</strong>-<strong>Week</strong>-1-<strong>DQ</strong>-2-<strong>Role</strong>-<strong>of</strong>-<strong>Government</strong><br />
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<strong>Role</strong> <strong>of</strong><br />
<strong>Government</strong>-Discussion<br />
2<br />
Economics is the study <strong>of</strong> how society chooses to allocate its<br />
scarce productive resources (labor, capital, land, entrepreneurial<br />
talent).<br />
In a mixed economy, elements <strong>of</strong> both central planning and market<br />
allocation <strong>of</strong> resources are used in allocating productive<br />
resources. The United States economy is a mixed economy, with<br />
a bias towards market allocation <strong>of</strong> resources. This means most<br />
resources are allocated in the private sector by way <strong>of</strong> markets.<br />
Discuss whether you favor a larger or smaller role <strong>of</strong> government<br />
in the economy. Refer to concepts found in the reading to support<br />
your opinion.<br />
Reference: Chapter 2: Markets, <strong>Government</strong>s, and Nations: The<br />
Organization <strong>of</strong> Economic Activity
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