Economics for management

answer one of following questions: 1 - Our vision is that the forces of the market are just that: they are forces, they are like the wizard the wind and tides. if you want to try to ignore them, you ignore them ar your peril. If you find a way of ordering your life which harnesses these forces to the benefit of society, that's the way to go.' (arnold harberger; Interviewied on Commanding Heights, PBS,2002, Episode one chapter 11. [login to view URL]) Discuss . 2. Theory of perfect competition... has a little claim to be called 'competition' at all, and its conclusions are of little use policy.' Friedrich von Hayek (1996 [1948]), the meaning of competition', in Individualism and Economic order, Chicago:university of Chicago Press; also available at [login to view URL] 3. In December 2009, the National Audit office estimated that the scale of state support to UK's financial institutions (the 'Bailout') reached 850 billion pounds, an unprecedented level of support'. Such support was warranted however: it is difficult to imagine the scale of the consequences for the economy and society if major banks had been allowed to collapse. the Treasury was justified in using taxpayers' money to safeguard savings and stabilise and restore confidence in the financial system. (see national Audit offices, Maintaining financial stability across the UK banking system, HC91, Session 2009-2010 4 december 2009; at http://bit/ly/7OMtKZ) Word limit should not exceed 200 words, not including titles or bibliography. The word count must be shown at the end of assignemtn. work that exceeds this world limit will receive a mark penalty. All works should be referenced by Harvard system method. If anyone is confident in writing this essay i would appreciate this, I will wait to select the best option