3) Consumer sovereignty concerns the principle of hedonism, individualism and, as some economists often say, selfishness, or exacerbated individual freedom, where the human being has complete freedom to do, whatever he wants and understands and, anywhere, nothing interferes with the decisions of those who need to satisfy their needs. This economic philosophy adopts the principle of laissez faire, or in other words, what works is Adam Smith's infamous <u>invisible hand</u>, or more clearly, the system where the government does not interfere in the economy, it exists only to coordinate the political and social system, without active participation in the development of economic activity. It is what is called in the classic and neoclassical language, an economy of free competition, that is to say, everyone is free before their preferred choices.
4) The economic system in the US is <u>free enterprise.</u> Free enterprise is a principle that establishes the possibility for ordinary people to participate in the market without the need for authorization or approval by the State. If you have the possibility to open a company, sell a product and negotiate the price that is right for you, you owe it to the principle of free enterprise.
The government has a fundamental role in the economic system, such as legislating, placing wealth in the market, as well as inspecting these systems.
5) The price floor wage is the lowest wage a company can pay for an employee. It is established by law and is reassessed every year based on the cost of living of the population, its creation was made based on the minimum amount that a person spends to guarantee their survival.
The most common price floor is the minimum wage--a minimum price that can be payed for labor.
Answer:
Uranus
Explanation: I just did the test and I got it wrong and it said Uranus was the correct answer.
<span>Popular sovereignty or the sovereignty of the people's rule is the principle that the authority of a state and its government is created and sustained by the consent of its people, through their elected representatives,who are the source of all political power
</span>confined within limits; restricted or circumscribed:alimited<span> space; </span>limited<span> resources. 2. </span>Government<span>. restricted with reference to governing powers by limitations prescribed in laws and in a constitution, as in </span>limited<span> monarchy; </span>limited government<span>.</span><span>
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i think it is c. second half of the 18th century hope it helps
The false statement is C, as the quality of a good doesn't determine wages.
Wages are determined by the marginal revenue productivity that a job generates. Thus, the higher the income generated by a job position, the higher the worker's wages.
In other words, the salary is valued according to the production of each job.
