write a one-page essay with 2-3 paragraphs containing how you can apply the concepts of supply and demand in making decisions necessary for the attainment of national development.
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The social economy includes associations, co-operatives, foundations, mutual organisations and social enterprises. In the EU, there are 2.8 million social economy entities, accounting for 6.3% of EU employment, but their impact goes far beyond those numbers. Social economy actors are found in most sectors of the economy—from health and education to banking and utilities. Some are small non-profits, but others are large enterprises with international outreach.
social economy is its focus on economic practices that are sustainable and inclusive: (i) by addressing societal (i.e. social and/or environmental) needs; (ii) by organising economic activities building on local roots, as well as using participatory and democratic governance; and (iii) by working in close co-operation with other economic actors and relevant stakeholders.
The demand for the social economy has never been greater. Social economy organisations have been a trusted partner, operating at the forefront of the crisis to address urgent sanitary and social needs. However, they are also facing the consequences of lockdown similar to other economic actors, including falling revenues. Certain social economy legal forms (such as associations or foundations) may represent an obstacle to accessing government support measures available to firms during the crisis.
The COVID-19 crisis calls for a re-balancing of efficiency and resilience throughout the economy. Traditionally, the purpose of the social economy has been seen to “repair” social problems (such as homelessness, labour market exclusion and other forms of social exclusion experienced by vulnerable groups). However, the social economy can develop a much larger role in the post-COVID phase to inspire transformation to a more inclusive and sustainable economy and society
The social economy has proven to be a pioneer in identifying and implementing social innovations and alternative ways of organising economic activities. These innovations have often been subsequently mainstreamed and adopted by the rest of the economy (such as fair trade, organic food movements or ethical finance). These innovations contributed to social and economic transformation and will be much needed in a post-COVID world.