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9 July, 03:21

A necessary condition for the economy to be self regulating is that

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  1. 9 July, 03:47
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    A necessary condition for the economy to be self regulating is that wages must be flexible in rising and falling. Wage flexibility is where wages can rise or fall due to profits. It's important for wages to be able to go both upward and download so that when cuts are made, they can adjust. Not only do they want to adjust when cutbacks need to be made, but when more hiring needs to occur, they are able to do so.
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