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Advantages and Disadvantages of Market System

Some of the Advantages and Disadvantages of Market System are as follows. So let us check out some information on market system to know more about it.

Some Advantages of Market System are :

  1. Wider varieties of goods as well as services can be seen in market system
  2. Consumers have control over what gets produced.
  3. Economic freedom as well as economic growth is possible in market system.
  4. Market system automatically adjust and responds to the people's wants.
  5. In market system the competiton pushes business to be efficient.
  6. Generally market system relies on consumers as well as producers hence it does not required the government to appoint a team to take decisions.
  7. High efficiences in production, distribution and consumption is seen.
  8. In monopoly there is only one product and monopolies can be considered an extreme result of free market capitalism

Some Disadvantages of Market System are :

  1. Harmful goods or inferior products can be encourage due to free market.
  2. In market system production may lead to negative externalities.
  3. Market sytem may not produce certain services and goods.
  4. In market system unequal distribution of wealth and income is observed.
  5. In Market system, exploitaton of the economically poorer and less powerful is noted.
  6. Free market economy may sometimes increases the gap between the poor and the rich people.
  7. In market system production is not employed if it is not profitable.

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What is Market economy ? Advantages and Disadvantages of Market Economy

Check out Advantages and disadvantages of market economy (capitalism) given below. So let us find out some points on advantages and disadvantages to know more about market economy. This type of economy is nearly free fro governement interference, Economy is based on private ownership where individual control the production, distribution and sales of goods and services.

Importance of Drip Irrigation System

Some of the Importance of Drip Irrigation are as follows. So let us check out some points on its importance to know about drip Irrigation.

Points of Importance of Drip Irrigation are:

Water flow in the form of irrigation water and rain water play important role in the introducing propagules and also dormant structures of pathogens either in soil or plant debris, into new, healthy fields/crop

What is Planned economy ? Advantages and Disadvantages of Planned Economy

Find out Advantages and disadvantages of planned economy (command economy) listed below. So let us check out points on advantages and disadvantages to know more about planned economy. This type of economy system is controlled by governement. In Planned economy, government decides how much is produces, what to produced, the methods of the production and the price of goods or services.

What is traditional economy ? Advantages and Disadvantages of Traditional Economy

Find some Advantages and Disadvantages of traditional economy. So let us check out information on advantages and disadvantages to know more about traditional economy.  In this type of economic system every person has a specific role in the society that is defined by its customs and traditions, traditional economy is based on simple industry and agriculture.

Advantages and Disadvantages of International Trade

Check out Advantages and Disadvantages of International Trade discussed below. So let us find out some information on advantages and disadvantages to know more about International Trade. It is a trade between nations in the form of imports as well as exports. International trade can be considered one of the important souce of revenue in the developing countries. Trade between countries is the exchage of both services and goods among the countries of the world economy.

What is Monopsony and its examples ?

Definition of Monopsony

Information on definition of monopsony and its examples is given below. Monopsony is a market condition in which a single buyer substantially controls the market as a major purchaser of services or goods offered by many sellers in the market. Monopsony is one of the important concept in economics but it has both advantages and disadvantages in the over all market structures. Monopsony also has imperfect market condition.