UNDERSTANDING BUSINESS
UNDERSTANDING BUSINESS
12th Edition
ISBN: 9781264161881
Author: Nickels
Publisher: MCG
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Chapter 2, Problem 2VC
Summary Introduction

Case summary: Poor people get small loans from specialized organizations in developed countries, in addition the existence of free market encourage people to start their own businesses and the prices are fixed by the market forces, in such a way poor people are getting advantage through such organizations and free markets.

Characters in the case: Specialized organizations, poor people of the developed nations.

Adequate information: Free markets are the markets where the economic decisions are taken by the market forces.

To determine: Four major requirements of a free market.

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