Tom A and Tim B while Lucy and Jim are C and D
A market economy is an economy where most resources are owned and controlled by individuals and are allocated through voluntary market transactions governed by the interaction of supply and demand.advantages: Competition leads to efficiency because businesses that have fewer costs are more competitive and make more money.
Innovation is encouraged because it provides a competitive edge and increases the chance for wealth.
A large variety of goods and services are available as businesses try to differentiate themselves in the market.
Economic activity is encouraged because you need money to live and need to engage in economic activity (through employment or self-employment) to make money.
disadvantages: Environmental damage results with no government regulations because it's usually more expensive to produce in an environmentally sound manner, which reduces profits.
There tends to be a reduced social safety net, including such programs as unemployment insurance, Social Security, and Medicare, because these programs are supported through taxation.
command economy is one in which a centralized government controls the means of production. The government determines what is produced, how it is produced and how it is distributed. Private enterprise does not exist in a command economy. The government employs all workers and unilaterally determines their wages and job duties. There are advantages and disadvantages of command economy structures. Command economy advantages include low levels of inequality and unemployment and the common good replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency.
New media comprises of texting, digital television, and laptop computers, which were only made available to the general public starting in the middle of the 1990s.
<h3>What is new media?</h3>
During the previous 25 years, new communication technologies have been developed. These include texting, digital television, and laptop computers, all of which were not made available to the general public until the middle of the 1990s. Internet usage was another reason it was created. It is different from traditional, older forms of media like books, periodicals, and newspapers. When the 1990s first began, there were only five terrestrial television channels accessible in the UK, and the bulk of viewers received their television signals using aerials and analogue signal television sets. Modern digital, HD flat-screen or curved-screen smart televisions offer hundreds of TV and radio channels and may be used to access streaming services like Netflix and Amazon Prime.
To know more about new media, visit:
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It was it creates an eerie, haunting mood.
