Due to the fall of the Soviet Union.
I heard they could and couldn't. But to be on the safe side, I would pick false.
Answer:
Entrepreneurs independently choose the field of activity, suppliers, contractors, markets. They have the right to engage in pricing, implement their long-term plans, as well as freely dispose of their property and income. The consumer in such a system is also independent. He is guided only by his needs and understanding of the marginal utility of the good. A market economy tends to self-regulate through a market mechanism. The gradual establishment of a balance of supply and demand contributes to the formation of equilibrium prices within which industries operate.
The internal rivalry of companies has a positive impact on the economic system of the country as a whole. Competition contributes to the expansion of production, its automation, optimization, implementation of innovative technologies and approaches to creating economic benefits. It encourages manufacturers to create exactly those goods and services that consumers need. Market self-regulation takes place through competition. The gradual establishment of the equilibrium of the system leads to a natural reduction in the cost of production, which in turn increases the wealth of the population and its degree of satisfaction with respect to the goods offered by the market.
Explanation:
Consumer price index = (current price 2013/ base price 1969) x 100
where:
consumer price index2013 = 235
base price 1969 = $2500
Solution
current price 2013 = (consumer price index /100) x base price 1969
current price 2013= (235/100)x $2500
current price = $5875
The price of pontiac firebird in 2013 is $5875.
