Complete Question:
The market system:
A. produces considerable inefficiency in the use of scarce resources.
B. effectively harnesses the incentives of workers and entrepreneurs.
C. is not consistent with freedom of choice in the long run.
D. has slowly lost ground to emerging command systems.
Answer:
B. effectively harnesses the incentives of workers and entrepreneurs.
Explanation:
An economic system can be defined as a series of governmental or societal arrangements and a coordinating mechanism used for the allocation of available resources, economic inputs, goods and services across a particular country. The economic system differs according to the method used to coordinate economic activities and who the factors of production belongs to.
Generally, there are basically two (2) main types of economic systems and these are;
1. Command systems.
2. Market systems.
The market system effectively harnesses the incentives of workers and entrepreneurs because workers are able to engage in division of labor and are well compensated for their efficiency in service while the entrepreneur are usually rewarded with an increase in sales and profits.
The market system allows participants to have property rights such as trademarks, patents and copyright. Also, market systems are regulated by the competition among individuals (traders or entrepreneurs) and this gives direction to the market as they pursue self interests and are independent.
Capital gains representative select industrial
A. Arrive early.
Explanation:
Dependable: Trustworthy and reliable.
B. Arriving with snacks doesn’t get you anywhere.
C. Arriving late isn’t even up for debate.
D. A day off is a day off for a reason, go home pal.
If the supply of person-hours in the market shifts to the right, then the equilibrium wage will <u>fall</u> and the number of person-hours will <u>increase</u>.
The equilibrium wage price is at the intersection of the supply and demand for labor. Personnel is hired as much as the factor where the extra value of hiring an employee Is equal to the extra income revenue from selling their output.
Labor market Equilibrium, the actual salary, and the equilibrium quantity of exertions traded are decided by the intersection of labor supply and labor call for. on the equilibrium actual wage, the amount of hard work provided equals the quantity of labor demanded.
A person's labor supply curve marks out the number of hours they are willing to work at one-of-a-kind wages, the equal manner that a vendor's supply curve marks out how a great deal they are inclined to promote at exceptional costs.
Learn more about the supply curve here brainly.com/question/11717727
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Answer: B. Individual ledger accounts
Explanation:
just took the test
