3.3 Markets and the Exercise of Economic Power
3.3.1 Economic Regulations
economic regulation for efficiency and political reasons
3.3.2 Supply and Demand for Materials, Goods and Services
competition drives a price that creates a supply-demand equilibrium
3.3.3 The Labour Market
wage negotiations: setting wage levels that employers can afford
3.3.4 Financial Markets
banks, loans, interest rate, speculation, inflation, currency exchange
3.3.5 Deviations from the Classical Economic Model
unpredictability, irrational behaviour, external events, restrictive practices
3.3.6 Government Control of Markets
governments sometimes manipulate markets, inefficiently, for politics
3.3.7 Targeted Political Uses of Economic Power
targeted governmental economic interventions impose costs elsewhere
3.3.8 Macroeconomic Policies
how governments manage spend and taxation, inflation, currency
3.3.9 Economic Pressures on Governments
pressure on politicians to give people a sense of economic wellbeing