ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Prices for groceries and other daily needs go down from year to year.
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Prices for groceries and other daily needs stay about the same from year to year.
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Prices for groceries and other daily needs go up from year to year.
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Prices for groceries and other daily needs are tightly regulated. . A patent gives the inventor of a new product the exclusive right to produce and sell it for 20 years. A copyright grants an author exclusive rights to publish and sell his or her creative works. P
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Detailed explanation-1: -Market economies tend to favor economic freedom, efficiency and growth (with full employment being a desirable side effect of these choices). Since free markets encourage competition and negotiation, other goals like equity, security, price stability and economic sustainability are sometimes sacrificed.
Detailed explanation-2: -A market economy deals with scarcity by using prices to direct production and ration consumption of resources. A price signals to producers what the greatest demand is for any good or service is at any given time and incentivizes producers to find the most efficient means to fulfill it with scarce resources.
Detailed explanation-3: -Which is an example of deficit spending intended o stabilize the economy? Tax cuts to help end a recession.
Detailed explanation-4: -Which of the following statements describe who will get the goods and services produced in a market economy? Those who are willing and able to pay and Those who have suffcient income and want to spend money on a particular good.