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 best describes the authors main claim in the text
Sladkaya [172]

Answer:

Explanation:

Humans can reverse the damage they have inflicted on the Earth’s water supplies if they reduce their pollution output.

5 0
3 years ago
Why did many Native Americans begin to move from their homes to the newly-created Indian Territory?
shepuryov [24]
C. Treaty forced them from their land
6 0
3 years ago
Read 2 more answers
Explain the Empire of Lydia, how it rose, how it came to prominence, and how it fell. Use 1-2 paragraphs for your answer.
xz_007 [3.2K]

Answer:

Lydia, with its capital at Sardis, rose to its greatest prominence under the reign of the Mermnad dynasty (c. 700 - 546 BCE).

When Cyrus II, King of Persia, invaded Sardis in 547 BCE, it became obvious that the lack of a defensive wall protecting the lower city was not a wise choice. The Lydian king Croesus simply retreated to the upper town, and the Persian army controlled the lower city with very little resistance.

Explanation:

8 0
2 years ago
When was luisiana purhased
sveticcg [70]

Answer:

It was purchased in 1803.

Explanation:

It's really important cause it doubled the land of the united stated and it was sold off really cheap as well.

7 0
2 years ago
Read 2 more answers
What was the main question James Madison thought about when he was writing the Constitution
barxatty [35]

Answer:

What was the main question James Madison thought about when he was writing the Constitution? "Should the United States have an army?" "How many states should be in the union?" "Should the states protect people's natural rights?"

Explanation:

7 0
3 years ago
Other questions:
  • Which region represents the solution to the given system of inequalities?
    14·1 answer
  • How did Hitler and the Nazi Party gain support in the Weimar Republic?
    13·1 answer
  • What was the name givin to the lack of understanding and communication between older and younger
    10·1 answer
  • What city did the British Capture and burn government buildings during the war of 1812
    14·1 answer
  • Why does the United States regulate automobile manufacturing in so many ways?
    14·1 answer
  • What going on when this proclamation <br> was written and announced
    6·1 answer
  • Do dynasties still exist in positions of power in the world today?
    14·2 answers
  • Who led the Bolshevik Party in Russia and headell the coup to overthrow the provisional government OA Franz Ferdinand OB. Karl M
    9·1 answer
  • Why is it important for a historian to have credible writing skills?
    10·2 answers
  • How does the U.S. know in advance about Japanese plans for attack?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!