Economics for Managers

  • Topic: Economics for Managers
  • Style: Not applicable
  • Number of pages: 1 pages/double spaced (275 words)
  • PowerPoint slides: 0
  • Number of source/references: 1
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Journal Entry of 200 words. Section reading is attached

There is growing concern about poverty and income inequality. These two concepts, however, are not the same. Income inequality deals with the percentage of income earned by the different income groups, while poverty is concerned with how difficult it is for the poor to meet basic needs. I’ve read about deontological and consequential approaches to ethics. Using those approaches, evaluate how well free market systems versus government intervention in markets address poverty and income inequality. Include in your discussion an explanation of how people in a free market economy, acting in their own self-interest, can better those around them. Bring examples from your own experiences where your actions, though entirely self-motivated, resulted in a benefit to somebody else.

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