Topic > Economic Party Cocktail: An Analysis - 715

The government's job is to have the people's interests at heart, to make sure that taxpayers' money is distributed fairly and that the economy is good. There are many examples of markets in education and government interference in agriculture, which can help explain the concepts of efficiency, equity, and market failure. In Adomait and Maranta's Cocktail Economic Party, many of these key concepts are demonstrated and examples are provided where understanding the economy is critical. “The freedom to buy and sell leads to economic efficiency” (p. 111). Efficiency is an important concept to understand where people have free choice whether they want to go to the market and whether they want to buy something;