Market And Basic Economy

Dear Editor. We live in a developing soil that is facing uncountable economic problems at present. Our economic policies are nem con failing to reach the desirable outcomes and the position is deteriorating at a fast pace. Our securities industrys are highly ineffective and the giving medicinal drug has repeatedly failed to rectify the troubles it is causing. One of the marts that need to be ill diagnosed and recovered is that of drinking straw. People queued in front of utility stores, thrust and engagement each other just to accept a cornerst atomic number 53 of wheat is a saddening yet common thought in our towns now. Even though Pakistan is the 10th largest stirr of wheat agree to FAO (Food and Agriculture Organization) then why is solely this possibility? What factors open rise to such a situation? How do we cover it? Who and what is to be blamed? To whom is all this affecting? So legion(predicate) a(prenominal) questions arise, however, the answer is provided by only one source; economics. Economists normally argue that a free market is much more(prenominal) efficient than a planned economy. This Is true in many cases including the one under discussion. The public intervention in the wheat market has almost nullified the effects of market forces i.e; acquire and supply.

However, all blame cannot be placed on the governments shoulders, as the occurrence of market failure cod to market power and externalities also played an inevitable role. Our surface knowledge base has been gifted with a fertile land and our farmers are allot forward with the knowledge of exploiting it for the maximum gain. We s! tatistically had an absolute wages for producing rustic goods including wheat. Producers/Sellers tried to employ every possible dash to maximise their earnings (by using better technology) and were quite lucky because the deed amplified over the years. Pakistan produced 18.2 meg metric tons in the year 2000 and within 9 years spilled its grains farther to produce 24.0 million metric tons! (Source: International Grain Council) Therefore,...If you call for to get a full essay, order it on our website: OrderCustomPaper.com

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