Unit 1 Assignment: Free Market and Ethical Issues\tMarkets are mechanisms for coordinating the set of connections of production operations that are\tdistributed throughout the whole economic system. Thus, the market is the predominant and\tdetermining link between producers of goods and services and consumers. Accordingly, markets, as\tan exchange of goods and services that takes place as a result of buyers and sellers interactions, are\tgenerally considered the most efficient allocator of resources in the market economy.\tHowever, free markets are not allowed to solve some of the social problems in a society due to\tvarious reasons. One such social problem is illegal drugs. Another example is environmental such as\tpollutions. For an additional example for a social problem, where supply and demand is not allowed\tto freely function, read the “Last Word”\ufffd feature on markets for human organs on Pages 68″\ufffd69 of your\ttextbook. There are black markets (underground economy) for human organs in some countries. But\ta trade in human organs, based on supply and demand, raises ethical issues and hence it indicates a\tlimitation of relying on markets to solve the social problems we have in the society.\tCourse outcome(s) practiced and assessed in this Assignment:\tGB540-3: Evaluate ethical issues in economics.\tDirections\tYou can write your research about social problems where the free markets are not allowed to\tfunction, which includes the market for a particular illegal good and service, a regulated market, etc.\t\u25cf Select a social problem where free markets are not allowed to function, and conduct research\ton the social problem.\t\u25cf Describe how free market features could be introduced to help alleviate the social problem\tthrough free market operations of supply and demand.\t\u25cf Discuss the risks of introducing market mechanisms of supply and demand in situations where\tethical issues are present.\tCriteria\t\u25cf Your Assignment should have a cover sheet with the following information: Title of the paper,\tyour name, course and section number, and date\t\u25cf It must be a minimum of 5 pages long (excluding title page, references, etc.)\t\u25cf Be sure to include the criteria located in the rubric below within your paper.\t\u25cf It must be APA formatted with citations to your sources and your last page should list all\treferences used. (Review the APA formats found in the\u00a0 Writing Center)\t\u25cf You must use a variety of three objective, high quality, and current sources. Peer reviewed\tarticles, articles published in journals, textbooks, and library resources found in the KU Library\tare examples of high quality resources.\t\u25cf Note that Wikipedia, Investopedia, etc. are not considered as reliable resources for this\tresearch.<\/p>\n","protected":false},"excerpt":{"rendered":"
Unit 1 Assignment: Free Market and Ethical Issues Markets are mechanisms for coordinating the set of connections of production operations that are distributed throughout the whole economic system. Thus, the market is the predominant and determining link between producers of Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-217271","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/217271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=217271"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/217271\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=217271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=217271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=217271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}