Elucidate Reliance on technology and capital goods
Elucidate Reliance on technology and capital goods of the market system?
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1. Competition, freedom of choice, self-interest, and the potential of profits provide the incentive for capital accumulation (investment).
2. Advanced technology and capital goods uses the more efficient roundabout method of technology.
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For Economic system argues by Adam Smith relies heavily upon all the given concepts EXCEPT: (w) market expansion will be facilitated through capital accumulation. (x) prices will be driven to the lowest point at that production can ev
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