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.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.
disadvantages: Environmental damage results with no government regulations because it's usually more expensive to produce in an environmentally sound manner, which reduces profits.
There tends to be a reduced social safety net, including such programs as unemployment insurance, Social Security, and Medicare, because these programs are supported through taxation.
command economy is one in which a centralized government controls the means of production. The government determines what is produced, how it is produced and how it is distributed. Private enterprise does not exist in a command economy. The government employs all workers and unilaterally determines their wages and job duties. There are advantages and disadvantages of command economy structures. Command economy advantages include low levels of inequality and unemployment and the common good replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency.
Answer:
Are you seriously going to waste 5 points on the tag question?
Explanation:
Solve
O' Level Business Studies Question paper
May/June 2016
7115/22
1-4 (All)
Homer included the gods and goddesses of Mount Olympus in his poems in order to show listeners how they interfere in people's life and the people of that time.
<h3>How does Homer shows the gods in the Odyssey?</h3>
The Greek Gods And Goddesses in the epic poem The Odyssey, is one that Homer portrays as having human qualities and faults.
The role of the gods and goddesses is that they often manipulate, plot, and also they do ploy against the humans that they hate.
So, Homer included the gods and goddesses of Mount Olympus in his poems in order to show listeners how they interfere in people's life and the people of that time.
Learn more about Greek Gods from
brainly.com/question/12675349
Answer:
Jonathan. Swift's commentary in the gulliver travel remains relevant today because violence continues to be a societal and political problem. Jonathan Swift makes a satire of human life in books. We could say that the stories are like a mirror that reflects humanity behaviors and realities.
