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2 years ago

5. Describe the overall involvement of the government in the free enterprise system of

Social Studies

1 answer:

lubasha [3.4K]2 years ago

6 0

1. In the free enterprise system of the U.S. economy, the government exercises minimal involvement.

2. The three specific areas where the government plays an important role include:

Providing the legal and social framework (laws and regulations)

Maintaining competition (antitrust laws)
Stabilizing the economy (The Fed).

<h3>What is a free enterprise system?</h3>

A free enterprise system ensures that there are few restrictions placed on business activities and ownership.

Governments can intervene minimally to:

Provide public goods and services (state and local governments).
Redistribute income (social security)
Correct externalities in the economy.

For example, the United States government ensures that market participants do not engage in:

False advertising
Environmental hazards
Unsafe products (foods and drugs, inclusive).

Thus, the government exercises minimal involvement in a free enterprise economic system.

Learn more about free enterprise systems at brainly.com/question/668263

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3 years ago

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Answer:

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3 years ago

Read 2 more answers

The graph is a marginal cost curve that compares expenses for producing apple pies.

koban [17]

Answer:

The correct answer is C. four pies.

Explanation:

Marginal cost is called the increase in the cost of production that is generated when the quantity produced in one unit increases. It should be remembered that the production cost refers to the money that must be disbursed to produce a service or a good. The aforementioned definition, indicates that the marginal cost is the increase in the cost recorded when an additional unit of a certain good is produced. In other words, the marginal cost reflects the rate of variation of the cost divided by the change in the level of production.

The curve representing the evolution of marginal cost has the shape of a concave parabola, due to the law of diminishing returns.

In the graph, the marginal cost curve has the following values:

For one pie, it's $ 1.00
For two pies, the curve decreases and it's $ 0.60
For three pies, the curve keeps decreasing and it's $ 0.30
For four pies, the curve begins to increase and it's $0.60
For five pies, the curve continue increasing and it's $ 1.40

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3 years ago

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3 years ago