Economic Forces

Scarcity exists in America because goods and services are distributed on the basis of what people can trade for them, not how much people need. The level of need at the ability to trade are not related.

Socialism attempts to assess the needs of the people and command production to feed those needs. Capitalism allows market forces to make such choices.

Trade restrictions can increase prices falsely leading to a shift of money from the consumer to domestic producers.

The Law of Supply states that when wages increa

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Category: Economics - E