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sammy [17]
3 years ago
14

Which of the following is the economic ideal for countries in the Western world

Social Studies
2 answers:
djverab [1.8K]3 years ago
7 0

Answer:

Laissez-faire capitalism

Explanation:

Laissez-faire capitalism

Response Feedback:  

Western culture emphasizes the autonomy of the individual—politically and economically. Laissez-faire capitalism is the economic ideal for Western civilization.

Lorico [155]3 years ago
5 0
What are the options?
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In a market economy, which of the following is MOST LIKELY to benefit consumers?
cluponka [151]
<h3>Answer: A. competition among producers</h3>

==========================================================

Explanation:

Competition reduces prices while also increasing the quality of the product or service. Companies that don't do such things will likely be out of business since the customer can go elsewhere for a better experience. The more competition, the better consumers are off.

In contrast, monopolies are bad for consumers because one company can set the price to whatever they want (to a certain level of course) and the customer has no choice to pay that price. The customer does not have any other option so the company is in full control. This leads to decline in quality because quality is often associated with cost. Safety standards may decline as well. So this is why monopolies are not good for the customer. In cases where there are monopolies, such as with power utilities, it is strongly advised that government regulations are put in place. This way the company doesn't completely exploit the customer.

In short, we can eliminate choice D because it runs counter to choice A.

Choice C can also be eliminated because if you had a decrease in supply, then the price of the product is likely to go up if you hold other factors in check (such as keeping the same level of demand). Higher prices do not benefit consumers unless those consumers had an equal or better wage increase.

A raise in interest rates means that it becomes more expensive to borrow money. For example, a raise in interest rates means that mortgage rates go higher. This negative is slightly counterbalanced with the fact that savings accounts interest rates go up as well. Overall, I think a rise in interest rates means that consumers ultimately pay more, so we can cross choice B off the list as well.

8 0
3 years ago
Read 2 more answers
Which of the following best defines the term spoil system
adelina 88 [10]

The correct answer is Jackson placing supporters into Federal offices

Hope This Helps!!!

Happy Halloween!!!

-Austint1414

5 0
3 years ago
Who will have the most money to spend on a new boat at the end of the five years? Use the formula I = P r t for simple interest
Butoxors [25]

Answer:

Keir will have the most money to spend on a new boat at the end of the five years; $1,440

Explanation:

Three friends decide that they each want to be able to buy a new boat in five years. Vanore puts $1,000 in a savings account with a simple interest rate of 4.5%. Keir invests $1,200 in a standard savers account with a simple interest rate of 4%. Omar invests $950 in a junior achievers account with a 6% annual compound interest rate. Who will have the most money to spend on a new boat at the end of the five years?

Vanore puts $1,000 in a savings account with a simple interest rate of 4.5%.

Vanore:

I = p * r * t

= 1000 * 0.045 * 5

= $225

I = $225

After 5 years, Vanore will have $1000 + $225

= $1225

Keir invests $1,200 in a standard savers account with a simple interest rate of 4%

Keir:

I = p * r * t

= 1200 * 0.04 * 5

= 240

I = $240

After 5 years, Keir will have $1200 + $240

= $1,440

Omar invests $950 in a junior achievers account with a 6% annual compound interest rate.

Omar:

A = P (1 + r)^t

= 950(1 +0.06)^5

= 950(1.06)^5

= 950(1.3382)

= 1271.1

A = $1,271.1

After 5 years, Omar will have $1,271.1

Keir will have the most money to spend on a new boat at the end of the five years; $1,440

4 0
2 years ago
Plz plz help me plz explain your work
Aneli [31]

Answer:Spread is going to a new location without any cause.Migration is going to a new location to escape violence,find a better job and many more.

8 0
3 years ago
Help me asap I'll 5th grade only pls the question with a picture is below
Ira Lisetskai [31]
The picture is not really clear
4 0
2 years ago
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