1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Luda [366]
3 years ago
15

Characteristics of a market economy include what

History
1 answer:
Aloiza [94]3 years ago
7 0

1. Private Property. Most goods and services are privately-owned. The owners can make legally-binding contracts to buy, sell, or lease their property. In other words, their assets give them the right to profit from ownership. But U.S. law excludes some assets. Since 1865, you cannot buy and sell human beings. That includes you, your body, and your body parts.

(Source: "Market Economy," University of Auburn.)

2. Freedom of Choice. Owners are free to produce, sell and purchase goods and services in a competitive market. They only have two constraints. First, is the price at which they are willing to buy or sell. Second is the amount of capital they have.

3.

Motive of Self-Interest. Everyone sells their wares to the highest bidder while negotiating the lowest price for their purchases. Although the reason is selfish, it benefits the economy over the long run. That's because this auction system sets prices for goods and services that reflect their market value. It gives an accurate picture of supply and demand at any given moment.

You might be interested in
What is the difference between ending the slavery trade and ending slavery
Vladimir79 [104]
Ending slavery means it will stop for sure, mean while ending the slavery trade means you won't be making more trades but slavery still exist. 

Hope this helps! :)
8 0
3 years ago
Read 2 more answers
What agricultural advantage did the union have over the confederacy
sesenic [268]
Honestly, none. The union didn't really have any agricultural advantages over the Confederacy, in fact, it can be argued that agriculture was one of the biggest disadvantages of the union.
7 0
3 years ago
Patients have no responsibilities regarding their healthcare. True or False
stira [4]

Answer:

False

Explanation:

7 0
3 years ago
Read 2 more answers
What was the biggest area of disagreement between Martin Luther King, Jr. and Malcolm X?
Svetllana [295]
This two african american's rights leaders disagree in the way to get the best solution: for Luther King, the democracy and the voting, for Malcom X, the violence, if needed..
Hopefully this helped you!
5 0
3 years ago
Read 2 more answers
Where in Oklahoma are the Spiro Mounds located?​
Ilya [14]

Answer:

Mind if ya brainiest meh

Explanation:

Spiro Mounds is a major Northern Caddoan Mississippian archaeological site located in present-day Eastern Oklahoma. The 80-acre site lies near the Arkansas River, seven miles north of the town of Spiro.

6 0
3 years ago
Read 2 more answers
Other questions:
  • True or false 4. sparta eventually replaced their kings with a military oligarchy in order to maintain a strong military.
    6·1 answer
  • Although individuals did not own land, tribes could and one would have to join a tribe to be able to use the land.
    11·1 answer
  • What are 3 examples of trace fossils
    8·2 answers
  • In which way did the unemployment rate for white Americans compare to the unemployment rate for minorities during the Great Depr
    7·2 answers
  • Please Please Please help! 30 pts! please! its due monday!
    9·1 answer
  • 1) Attend Indian Schools, 2) Learn English, 3) Live in designated areas, 4) Adapt to farming ---What is this list referring to?
    10·1 answer
  • This country is a prosperous and modern economy with low unemployment, a highly skilled labor force, and a per capita GDP among
    13·1 answer
  • Plz helpp me
    13·1 answer
  • HELP URGENT will give brainliest if correct
    13·2 answers
  • The president has the power to select people he trusts as he creates his
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!