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Critically Discuss the Costs and Benefits of Having a Market

question 29

Essay

Critically discuss the costs and benefits of having a market exchange economy. What advancements can be gained from this economic system? What social institutions are lost?


Definitions:

Truly Motivated

A state where an individual has authentic and intrinsic motivation to perform actions or pursue goals, driven by personal interest and values.

Extrinsic Rewards

External factors that include salary and other benefits or goods.

Responsibility

The state or fact of being accountable for something within one's power, control, or management.

Intrinsic Reward

Motivation derived internally, often related to personal satisfaction or enjoyment in performing a task or activity.

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