Why are free market economies able to attain economic growth

Asked by maham237 @ 01/12/2020 in History viewed by 316 People

A. Consumers can purchase all the goods they need, which causes firms to produce more.

B. Competition encourages innovation, which causes growth.

C. Everyone is acting in their own self-interest, which motivates market growth.

D. Firms keep producing incentives to encourage households to purchase more goods

(not A.)

Which of the following results from having a nation having conflicting economic goals? A. the nationalizing of some industries B. the need to rank choices in order of importance C. the need for economic safety nets D. government regulation of domestic industries
(not A.)

Answered by maham237 @ 01/12/2020

Q1. The answer is B. Competition encourages innovation, which causes growth. In the free market system, the prices for goods and services depend on the open market where the laws of supply and demand are free from any authority, such as government. In this form of market, free competition will encourage innovations and those innovations can cause growth. ....... Q2. The answer is B. the need to rank choices in order of importance. In the federal system of America, the state and the federal government pursue conflicting economic goals. As the result, the need to rank choices in order of importance emerges.

Which most strongly drives producers in a free market economy

Asked by maham237 @ 26/04/2021 in Business viewed by 492 persons

In a free-market system, producers are most strongly driven by which of the following? O A. Government planning. B. The profit motive C. Coercion D. Utility satisfaction.

Compare and contrast centrally planned economies and free market economies

Asked by maham237 @ 26/05/2021 in History viewed by 262 persons

2. Using examples of land, labor, and capital, explain why economists believe that all goods and services are scarce.

What type of economic growth do most developed economies experience

Asked by admin @ 02/10/2021 in Geography viewed by 421 persons

What type of economic growth do most developed economies experience? rapid growth unpredictable growth moderate growth slow growth

What are the advantages a market economy offers producers? (there is more than one answer) a: minimal government intervention b: property rights c: monopoly of bigger companies d: free advertising for small businesses e: free labor

Asked by maham237 @ 13/01/2021 in History viewed by 879 persons

What steps must countries take to transition to a mixed-market economy? check all that apply.

Asked by maham237 @ 25/12/2020 in History viewed by 568 persons

What steps must countries take to transition to a mixed-market economy? Check all that apply. They must establish state-owned businesses. They must decrease private ownership. They must establish a fair …

When compared to a mixed-market economy, a command economy typically has

Asked by wiki @ 14/11/2020 in History viewed by 451 persons

When compared to a mixed-market economy, a command economy typically has more private ownership. more government control over production. strong consumer-buying power. a greater chance for a high income.

In a transitional economy, a.................... economy is changing to a mixed-market economy.

Asked by maham237 @ 01/12/2020 in Social Studies viewed by 310 persons

advanced command free-market developed

Who answers the three economic questions in a mixed economy

Asked by admin @ 26/11/2021 in Business viewed by 312 persons

In a mixed economy who answers the three economic questions - consumers - the government - producers - both A and B

In a market economy who answers the three basic questions

Asked by admin @ 26/11/2021 in Social Studies viewed by 287 persons

Who answers the three economic questions in a market economy? How is this different from a command economy?

What is the role of prices in a market economy

Asked by admin @ 26/11/2021 in Business viewed by 312 persons

What is the role of prices in a market economy? a Indicating the cost of a good. b Indicating how valuable a good is. c Indicating the profit that a …

Who answers the three economic questions in a command economy

Asked by admin @ 26/11/2021 in Social Studies viewed by 279 persons

Who answers the three economic questions in a market economy? How is this different from a command economy?

Who answers the three economic questions in a traditional economy

Asked by admin @ 26/11/2021 in History viewed by 302 persons

There are three basic economic systems: traditional economies, command economies, and market economies. For EACH economy describe how the three basic economic questions are answered: 1. What should be produced? …

There is no such thing as a free lunch economics

Asked by admin @ 22/11/2021 in History viewed by 263 persons

"There is no such thing as a free lunch" is a famous economic expression that means everything has a cost. In 1 or 2 sentences, describe how this expression relates …

What does there is no free lunch mean in economics

Asked by admin @ 31/10/2021 in History viewed by 266 persons

"There is no such thing as a free lunch" is a famous economic expression that means everything has a cost. In 1 or 2 sentences, describe how this expression relates …