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Cech, Roman; Marks, Melanie Beth – Social Studies, 2007
The typical method of presenting supply and demand in high school classes often leaves students with an impression that markets are simple and function effortlessly. In reality, the effectiveness of markets depends on the quality of complex institutions such as private property and property-rights enforcement. Students often do not realize that…
Descriptors: Foreign Countries, Supply and Demand, Economics, Private Sector