GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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products have become very technical.
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people’s attitudes have changed.
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costs of production have continued to increase.
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competition in the marketplace has increased.
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Detailed explanation-1: -One reason that has caused the government’s sole in a business to expand is that: people’s attitudes have changed. The government can borrow money from the private sector in order to pay the costs of regulation by: issuing bonds.
Detailed explanation-2: -Capitalism is an economic system in which private citizens, like you, own and use the factors of production. Individuals or companies make products and profits. If the products can be bought and sold without government regulation or control, we have a condition called a free market.
Detailed explanation-3: -A market economy has freedom of choice and free enterprise. Private entrepreneurs are free to get and use resources and use them to produce goods and services. They are free to sell these goods and services in markets of their choice.