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ryzh [129]
3 years ago
5

An economic system that operates mainly on private transactions where firms are free to make their own production, distribution

and pricing decisions is known as.
Business
1 answer:
xxMikexx [17]3 years ago
5 0

Answer:

Market economy

Explanation:

There are three predominant economic system; <u>market economy, command economy and mixed economy. </u>

  1. In Market economy individuals and firms are free to make their own choices. There is no regulatory authority that is monitoring the system. Firms can produce whatever they want and sell it at whatever price they desire. This idea of free market was first suggested by economist Adam Smith. Firms will only manufacture goods that market demands, even if they are dangerous to the society e.g. cannabis and LSD. If the demand exists and firms can make profit, they will produce it regardless of its impact on the society.
  2. Command economy is heavily monitored by government. Government decide what to produce, how much to product and for whom to produce. The price is fix for every product. For example, if the price of cheese is set at $10 per pound, everyone will get it for $10. There is no concept of private ownership and everything is owned by the government.
  3. Mixed economy, also known as traditional economy is a combination of above two types. There is private as well as public ownership. Firms can produce goods, but they will follow laws and regulations (firms can't make and sell LSD to teenagers). The government provide healthcare, education and protect consumers from private institutions.  

The question deals with a situation where there is no government intervention. The firms are free to make their own production, distribution and pricing decisions. Hence, it’s a market economy.  

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Nataly [62]

Answer:

The correct options are Advanced degree after a traditional four year college degree and On the Job training Experience.

Explanation:

If I like to persuade my career in the Finance Field, I would definitely go for the Four Year degree program in finance and then do Advance education in the concerned field. Then i would like to get the on the job training experience in the finance department of a renowned company to have a true learning experience of the finance field in real time. This would prepare me to become fully knowledgeable about the finance matters before entering into the market as a finance professional. So getting advance degree after basic degree in finance and getting the on the job training would be my choices for Finance Careers.  

3 0
3 years ago
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Suppose the government decides that every family should own its own home. To bring this about, the government decides to subsidi
stira [4]

Answer:

d. the supply curve of new houses would shift rightward, since builders would be willing to produce and sell more houses at each given price.

Place more oil on the market this year, shifting the curve rightward.

Explanation:

1. In the given scenario the government is willing to give home-construction companies $10,000 for every house that they build.

This will result in more willingness on the part of the construction companies to build more houses.

More houses built means more income coming in from the government.

Therefore the supply curve of home building will shift to the right.

2. When oil producers expect prices of oil to increase in the next year, there is a need to control oil prices by increasing availability of oil in the market.

Increase in price results from a scarcity of oil. So to mitigate this excess oil is supplied to control price increase.

This action will shift the curve rightward.

6 0
3 years ago
By law, a company has to ________.
saw5 [17]

Answer:

I'm going to use common sense and say A.

Explanation:

4 0
2 years ago
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GarryVolchara [31]

Answer:

Mentally outline your conversation

Explanation:

Since in the question it is mentioned that Gwen who is in a design team is unprofessional and even rude to her coworkers. Due to this, she missed two deadlines. Now you have to address this problem so here the first step is to outline your conversation in a mental way so that the chances of solving the problem is high

Therefore the same is to be considered

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3 years ago
Top management at Prinze Auto Sales has decided to replace their traditional marketing approach with an approach that emphasizes
Citrus2011 [14]

Answer:

2. False

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Relationship management is considered an important part of CRM (customer relationship management) and it emphasizes on building and increasing customer loyalty and long term commitment.

If this company was to replace their traditional marketing approach with relationship marketing, they would devote more time to build a solid relationship with existing customers and less time searching for new customers.

5 0
3 years ago
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