1. Key Theories of Market Society
In order for a freer market economy to take place, a system of regulations needed to be placed in order to be able to govern the market based on competitive forces rather than social norms. ... Similarly an oligopoly where there is only a small select number of companies providing a specific service, price can become very uncompetitive and does not necessarily reflect the needs and wants of the consumer. ... Globally, there have been mass layoffs within big and small businesses due to downsizing and efforts to compete in free market-based economies by utilizing advances in technology that fo...
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- Grade Level: Graduate