Was more focused on manufacturing, whereas the southern colonies focused on agriculture.
Answer:
-The profit motive plays a bigger role in socialist systems than it does in capitalist system.
-Free market forces affect the economy more in socialist systems than they do in capitalist systems.
Just as U.S. society is characterized by a great deal of dynamism and entrepreneurship,reflecting the primacy of values associated with individualism, some argue that Japanese<span>society is characterized by a corresponding lack of dynamism and entrepreneurship.</span>
Answer:
Answer Below:
Explanation:
In economics, economic equilibrium is a situation in which economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change. For example, in the standard text perfect competition, equilibrium occurs at the point at which quantity demanded and quantity supplied are equal.[1] Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes, and quantity is called the "competitive quantity" or market clearing quantity. But the concept of equilibrium in economics also applies to imperfectly competitive markets, where it takes the form of a Nash equilibrium.
