ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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guaranteed equity.
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guaranteed employment.
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opportunity for profit.
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lots of government regulation to ensure that no one has too little or too much.
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Detailed explanation-1: -Answer and Explanation: The correct option is a. It gives producers and consumers a great deal of freedom.
Detailed explanation-2: -A market economy promotes free competition among market participants. Notable benefits of a market economy are increased efficiency, production, and innovation.
Detailed explanation-3: -What are the 6 strengths of a market economy? Can adjust to change over time, producers can choose what items are produced and how they are produced, there is a relatively small degree of government interference, decision making is decentralized, and there is a variety of goods and services.
Detailed explanation-4: -Increased efficiency, productivity, fair competition, and innovation are key advantages of a market economy. On the other hand, the disadvantages of a market economy are intense competition, poor working conditions, environmental degradation, and economic disparities.
Detailed explanation-5: -It provides a society with the right goods or services at the right time. A market economy promotes entrepreneurship. It creates competition. It reduces the need to store products. Market economies tend to provide more jobs. Prices are usually kept down in a market economy. 24-Jul-2017