Advantages of free market economy
Give the best advantages of free market economy?
Expert
There are many advantages to a free market economy . These are the perfect choice from the moral issues to the practical issues. We only deal mainly in practical ones.
Unprecedented innovation - Free markets are wrought with inventions and the capital to research them. Countries ordered as having a free market have been responsible for the vast majority of inventions since the 19th century.
Very high-income mobility - This means that under a free market system it is easier to move around income brackets. It is very easy to become rich or poor when you are left to your own devices as opposed to a controlled economy where resources are allocated by the government.
The Hobbit family buys 72 vegetarian specials yearly at a price of $3.00 each but would consume 192 yearly when the price dropped to $2.40. Therefore their price elasticity of demand is: (w) 4.09. (x) 2.05. (y) 6.15. (z) 0.26. Q : Union Strategies and the Taft-Hartley The union strategy made illegal through the Taft-Hartley Act of 1948 was: (1) Jurisdictional strikes centered on which the unions would symbolize a firm’s staff. (2) Contracts in which the firms agreed to preferentially encourage the union members. (3) ‘Ri
The union strategy made illegal through the Taft-Hartley Act of 1948 was: (1) Jurisdictional strikes centered on which the unions would symbolize a firm’s staff. (2) Contracts in which the firms agreed to preferentially encourage the union members. (3) ‘Ri
I have problem in this question based on law of demand. Provide me correct answer of this. Described the circumstances in which the "general law of demand" not hold?
When a price cut for licorice gummy bears decrease the demand for tuna fish ice-cream, then: (1) Tuna fish ice-cream and licorice gummy bears are the complementary goods. (2) Price hikes for tuna fish ice-cream will decrease the demand for the licorice gummy bears. (3
The short-run industry supply curve is found by what?
why is marginal revenue product=marginal resource cost a formula for profit maximization?
Imagine Roger is contemplating going to school to complete a masters degree in the current period while working part time instead of full time. There are six relevant periods of his work lif, periods t=0,1,2...5. HIs earnings each period if he gets the additional education are given by Yt=100+200t
Capitalization is a process: (a) that converts fixed cost into variable cost. (b) by which predictable income flows are translated into wealth. (c) of financial intermediation by bankers. (d) of exploiting unskilled workers. Q : Problem on blue collar workers I have a I have a problem in economics on Problem on blue collar workers. Please help me in the following question. The labor unions have tended to be very successful in organizing: (i) White collar workers. (ii) Blue collar workers. (iii) Professionals. (iv) Clerical workers.
I have a problem in economics on Problem on blue collar workers. Please help me in the following question. The labor unions have tended to be very successful in organizing: (i) White collar workers. (ii) Blue collar workers. (iii) Professionals. (iv) Clerical workers.
In the competitive market economy, most of the prices: (i) Make sure high incomes for the bureaucrats. (ii) Free resources and ration free goods. (iii) Act as a signal among sellers and buyers. (iv) Are set by the govt. Discover Q & A Leading Solution Library Avail More Than 1454215 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923136 Asked 3,689 Active Tutors 1454215 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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