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Discuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries. How might E.U. membership enhance GDP for the new members. Free essay! Download now

Home > A Level > Economics > Discuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries. How might E.U. membership enhance GDP for the new members.

Discuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries. How might E.U. membership enhance GDP for the new members.

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Downloads to date: N/A | Words: 3658 | Submitted: 05-Apr-2011
Spelling accuracy: 98.0% | Number of pages: 14 | Filetype: Word .doc


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Discuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries.  How might E.U. membership enhance GDP for the new members. essay previewDiscuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries.  How might E.U. membership enhance GDP for the new members. essay previewDiscuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries.  How might E.U. membership enhance GDP for the new members. essay preview

Description

Discuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries. How might E.U. membership enhance GDP for the new members. Pages 3 - 6\n\nQuestion 2 Discuss the main economic objectives the UK government pursues. Which is the most important. Why would a new entrant to the EU have different economic priorities.\n Pages 7-8\n\nQuestion 3 Discuss the main economic objectives the UK government pursues. Which is the most important. Why would a new entrant to the EU have different economic priorities \n \n Pages 9-12\n\nQuestion 4 Explain the following terms. Outline briefly what each does.\n• European Central Bank\n• Bank of England\n• World Bank\n \n

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Contents

Question 1 Discuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries. How might E.U. membership enhance GDP for the new members. Pages 3 - 6

Question 2 Discuss the main economic objectives the UK government pursues. Which is the most important. Why would a new entrant to the EU have different economic priorities.
Pages 7-8

Question 3 Discuss the main economic objectives the UK government pursues. Which is the most important. Why would a new entrant to the EU have different economic priorities

Pages 9-12

Question 4 Explain the following terms. Outline briefly what each does.
European Central Bank
Bank of England
World Bank
Page 13




Q 1: Discuss the various types of economy command, market and mixed. Why do you think the disparities exist between the countries. How might E.U. membership enhance GDP for the new members.

The economic problem is that resources are scarce but the human wants are unlimited, economy is a system for the allocation of the scarce resources, Economy answers three questions:
what gets produced
How to produce it
Who gets what

A free market economy

A free market economy is one where economic decisions are made through the free market mechanism. The forces of market demand and supply, without any government intervention, determine how resources are allocated. This is known as the working of the price mechanism.
What to produce is decided upon by the profitability for a particular product. 
When demand for a product is high, the price rises and this raises the profitability of selling in the market 
High prices and high profits provide the ...

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