May 2024

Compare how exchange rates are determined in Singapore and USA.

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Intro: Recognize that there are some similarities and differences between how exchange rates are determined in both Singapore and USA. The similarities can be broadly classified as the similar impacts that the free market mechanism has on both exchange rates and the key difference is the different exchange rate systems for both countries. Body: Similarities: […]

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Explain how market dominance and imperfect information can lead to market failure.

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Introduction Market failure occurs when the operation of the market fails to achieve economic efficiency in the allocation of scarce resources i.e. it is possible to change the existing resource allocation to make someone better off without making someone else worse off. There are a few causes of market failure including market dominance and imperfect

Explain how market dominance and imperfect information can lead to market failure. Read More »