Question

relationship between market and equality. explain

Answer 1

Answer:

Thus, by nature, market always cater to those demands which are backed-up with the purchasing power. In this way, the market functions as per the price signals. That means, if demand is high, then price is high and market will provide these goods. However, in this way, the market overlooks the equality of society

Answer 2

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The relationship between market and equality:

Economy means a place where money is traded or exchanged for goods and services. Through nature, therefore, the economy still meets certain demands that are backed up through the buying power. The market functions in this way according to the price signals.

This implies that if demand is high, then the price will be strong and the economy must produce such products. The economy, though, overlooks social equity in this manner. It only caters for those who have the purchasing power to demand.

Many of the disadvantaged will be absolutely robbed of the various goods, sometimes even the necessary products, because they cannot afford to pay for them. Depending on this theory, we can therefore conclude that the economy benefits those with purchasing power, thus overlooking the social issues of the weak. Market exaggerates the equality in this way.