1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tester [92]
3 years ago
7

What are the main benefits of a market economy?​

History
1 answer:
Scilla [17]3 years ago
7 0

Answer:

A market economy is an economy where most resources are owned and controlled by individuals and are allocated through voluntary market transactions governed by the interaction of supply and demand.

Explanation:

A market economy has several advantages:

Competition leads to efficiency because businesses that have fewer costs are more competitive and make more money.

Innovation is encouraged because it provides a competitive edge and increases the chance for wealth.

A large variety of goods and services are available as businesses try to differentiate themselves in the market.

Economic activity is encouraged because you need money to live and need to engage in economic activity (through employment or self-employment) to make money.

Freedom of individual choice is possible to the extent that the market provides options for work, developing a business, and purchasing goods and services (so long as you can afford them).

You might be interested in
Which of the following crops are common in the Prairie Plains region?
Zigmanuir [339]

Answer:

The awnser is C.

Explanation:

because wheat and barley are types of farmer crops that are used by cattle ranches.

3 0
3 years ago
What is the time and place of "to da-duh in memoriam.
Eddi Din [679]
I believe the setting is in Barbados in the 1930's
3 0
3 years ago
Under the leadership of Elijah Muhammad, the Nation of Islam urged blacks to
Dafna11 [192]
B. Muhammad was the mentor of Malcolm X. They were known for violence rather than nonviolence.
7 0
2 years ago
-7. Why did pharaohs have absolute power?
vova2212 [387]

Answer:

Option A

Explanation:

The answer is option A or "Egyptians believed that the pharaohs were gods who had come to take care of Egypt." Which is basically the reason why the pyramids of Egypt were built in the first place, to make sure that the pharaohs can still reign over Egypt and control the Egyptians lives even after they die and enter the afterlife.

Hope this helps.

7 0
2 years ago
Which scenario increased the time needed to draft the Articles of Confederation? There was fear of another war with Britain in t
Alex_Xolod [135]
<span>The scenario was when the delegates wanted a federal system to control the entire nation, but did not know how to handle it without affecting the interests of other members. There were also perhaps those who wanted the nation to be managed according to its own state, but they did not reach a concrete agreement that solved the problems of confederation.</span>
4 0
3 years ago
Other questions:
  • What did the Marshall Court rulings that supported the “sanctity of contracts” and federal law over state law boost
    14·2 answers
  • What caused the persian navy to be destroyed at salamis
    8·1 answer
  • Dinosaurs emerged during what time period
    11·2 answers
  • The Marsh test, developed in the mid-1830s and used until the 1970s, detected arsenic in a poisoned substance by mixing the subs
    5·1 answer
  • Milton Friedman helped to establish the economic theory of monetarism. Which statement best describes the idea of monetarism?
    6·2 answers
  • Why was the Fifteenth Amendment created?
    10·2 answers
  • What is NOT a way that citizens can influence the government
    8·1 answer
  • How can you tell that Theodora speaking up was unusual?
    8·1 answer
  • Why did the Democratic-Republicans oppose the Alien and Sedition Acts?
    15·1 answer
  • The misinformation effect occurs when people incorrectly recall an event they’ve witnessed due to misleading information about t
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!