Answer:
Businesses in free enterprise systems compete with each other to produce better products at better prices. Competition leads to innovation, new ideas and a more competitive market. Competiting allows businesses to control themselves and their ideas in an <em>efficent manner. </em>
<em>However, competition in the free enterprise systmem leads to lower wages and income.</em> It leads to the best product at the lowest price. It leads to a variety of products available to the consumer.
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What would be the yearly earnings for a person with 9000 in savings at an annual interest rate of 1.5 percent is: $135
<h3>
Yearly earnings </h3>
Using this formula
Yearly earnings =Savings×Annual interest rate
Where:
Savings=9,000
Annual interest rate=1.5%
Let plug in the formula
Yearly earnings=9,000×1.5%
Yearly earnings =$135
Therefore what would be the yearly earnings for a person with 9000 in savings at an annual interest rate of 1.5 percent is: $135
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Answer:
Downward sloping
Explanation:
In a market condition of pure monopoly, there is a single firm operating the whole market and managing all the buyers. All the buyers in this market condition are price takers because the price is set by the monopolist.
The pure monopolist faces the downward sloping demand curve which shows the inverse relationship between the price of the good and the quantity demanded and they can obtain the economic profits in the long run because of the restrictions over the entry of the other firms.