GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Countries whose governments provide citizens with free medical care, education, and other benefits often are referred to as ____ states.
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consumer
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capitalist
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welfare
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military
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Explanation:
Detailed explanation-1: -In a market economy, the producer gets to decide what to produce, how much to produce, what to charge customers for those goods, and what to pay employees. These decisions in a free-market economy are influenced by the pressures of competition, supply, and demand.
Detailed explanation-2: -World War I, the Great Depression, and World War II have been characterized as important events that ushered in expansions of the welfare state.
Detailed explanation-3: -Welfare state. A nation-state whose government is committed to ensuring economic and social well-being through redistribution of wealth and othet government-sponsored programs.
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