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Many developing countries in the "Global South" turned to socialism in the past as a means to solve their economic problems. Now, in the light of the evident failure of socialism, many of these countries seek to create fast growth through the establishment of "market economies."
Using South Africa, identify which of the five market economy policies this country appears to be following. describe how you reached this conclusion.
Speculate about the likelihood of success of achieving a prosperous market economy for this country
describe which of the policies is most effective and least effective for this country ? Provide a rationale with your answer.

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Microeconomics, Economics

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