A. Adam Smith, Father of Modern Economics," believed that competition is a regulatory force. He argues that keeps self-interest at bay by restraining the ability to take advantage of consumers.
B. Friedrich Von Hayek, often called F.A. Hayek, believed that less government intervention gives people more economic freedom. He wrote about it in his pamphlet, "Economic Freedom and Representative Government."
C. John Maynard Keyness, according to Keynesian economics, one of the tenets of this school of thought is that government intervention is necessary for stability.
D. Milton Friedman (not Friedrich), said that the government's role in the role should be restricted. The government should not control the money supply.
Answer: Mobility Barriers
Explanation:
<u>Mobility Barriers</u> are industry-specific factors that separate one strategic group from another.
Answer:
B. entrepreneur who commercialized invention into an innovation
Explanation:
A- there wasn't any firm before
C- the business was growing not at maturity state
D.- his business is a distribution channel it is not relater to find niche markets
B.- He use an invention The Internet to innovate in the ways product are distribute and comercialized. It made an innovation(it didn't exist before) out of the invention
The market system is also known as capitalism, while the command system is also known as communism. The market system is owned by private ownership, businessman and companies, hence it has capitalism concept. The command system is owned by a community or public.
Hence it can be said that
The market system is also known as <u>capitalism</u>, while the command system is also known as <u>communism</u>.
