Please provide a written response to the questions below: Why society has chosen

Question

Please provide a written response to the questions below:

Why society has chosen the Mixed Economy. Write a short essay using complete sentences and proper grammar which:

Gives two goals desired by society that the pure market economy is largely successful in reaching and explain why the market is able to attain these goals.

Gives two goals desired by society that the pure market economy is not very successful in reaching and explain what government actions have been taken to help the economy reach these goals

Explanation / Answer

1)

The heart of a thesis essay is an argument, opinion, or one side of a debate. It is never a fact. It may use facts to support its opinions, but at its heart it is nonfactual.

Thesis writing has many uses in school and work. In school, one of the highest levels of academic thinking you can do is to argue intelligently. Whether orally or in papers, you will be called upon in a number of courses--especially in your chosen field or area--to present intelligent opinions backed up by sound reasoning and information. Therefore thesis writing--the ability to argue intelligently--is one of the most important skills you must learn in college.

In the professional world--the world of work-- thesis writing also is important. Sooner or later you will have a position of authority in which you must do more than simply obey orders or instructions: good employees in far-seeing businesses are people able to examine data and make decisions. To do this, one must learn to consider different possible positions or options, find the strengths and weaknesses of each, and then make a thoughtful decision. This kind of thoughtful decision-making requires the ability to argue different options fairly and make logical choices. For this reason, thesis writing also is one of the most important skills you must learn to rise in the world of work.

2)

As one can see, labels used to distinguish between economically developed and developing countries vary quite a bit. The terms used to describe the economic development process itself, however, are much more rigorously defined. For example, while the terms "economic growth" and "economic development" are often used interchangeably, there is an important distinction between these two terms. The term "economic growth" refers to an increase (or growth) in real national income or product expressed usually as per capita income. National income or product itself is commonly expressed in terms of a measure of the aggregate output of the economy called gross national product (GNP). Per capita income then is simply gross national product divided by the population of the country. When the GNP of a nation rises, whatever the means of achieving the outcome, economists refer to it as a rise in economic growth. The term "economic development," on the other hand, implies much more. This can best be illustrated with the help of an example. If we look at the developments in South Korea and Libya since 1960, we discover fundamentally different situations. Both these countries experienced a huge rise in the real per capita income, but the reasons for the increases are vastly different. Libya's increased per capita income resulted from the discovery of crude oil reserves; Libya harvested these oil resources with the help of foreign corporations that were largely staffed by foreign technicians. Libya thus produced a single product of great importance that was exported mainly to the United States and Western Europe. While Libyans (both the government and people) received large incomes from selling oil, they did not play a major role in producing that income

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