Why Did Global Economic Recession Starting in 2007/8 Call into Question

question 4

Essay

Why did global economic recession starting in 2007/8 call into question the belief in the primacy of markets?

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Definitions:

Sample Observations

Specific instances from a larger population used to gather data and draw conclusions.

Probability

A measure of the likelihood that an event will occur, quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Sample Mean

The average value computed from a sample of data, representing an estimate of the population mean.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how spread out the values of a data set are.