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Management Studies

What are the benefits of leaving the allocation of country resources to the price mechanism?

Ans) The main conditions needed are:

1. Either a finite number of agents or goods.

2. No externalities - That is, the consumption of one person should not harm or advantage anyone else.

3. No matter how much a one is consuming, they must be capable to be made slightly happier by consuming a bit more of something.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9533680

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