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
11Alexandr11 [23.1K]
3 years ago
6

What is an advantage of a market economic system?

History
2 answers:
galina1969 [7]3 years ago
5 0

Answer:

I believe it's the third one

Explanation:

Tom [10]3 years ago
4 0

Answer:

C

Explanation:

There are four types of economies: traditional, command, market, and mixed (a combination of a market economy and a planned economy). A market economy, also known as a free market or free enterprise, is a system in which economic decisions, such as the prices of goods and services, are determined by supply and demand. The assumption behind a market economy is that supply and demand are the best determinants for an economy's growth and health. These market forces influence what goods should be produced, how many goods should be produced, at what price the goods should be sold, Et al. The advantages of a market economy include increased efficiency, productivity, and innovation.

In a truly free market, all resources are owned by individuals, and the decisions about how to allocate such resources are made by those individuals rather than governing bodies. Because governments have some involvement, there are no recognized economies that are 100% free.

KEY TAKEAWAYS

A market economy is an economy in which supply and demand drive economic decisions, such as the production of goods and services, investments, pricing, and distribution.

A market economy promotes free competition among market participants.

Notable benefits of a market economy are increased efficiency, production, and innovation.

Business Efficiency

Unlike other types of economies, a market economy increases the efficiency of businesses. The government is limited in how it regulates transactions within a market economy. Most rules are enacted to protect consumers, the environment, market participants, and national security. Their limited role promotes increased efficiency and free and increased competition. With the existence of competition, a business tends to do whatever is necessary to lower its costs and achieve a higher number of sales to increase profits.

Increased Productivity

Increased productivity is also associated with a market economy. In any economy, people need money to purchase goods and services. In a market economy, this need leads to increased motivation because workers want to earn more money to supply their needs and to live comfortably. When people are motivated to work, there is increased productivity and output for the economy. In a command economy, where wages, levels of production, prices, and investments are set by a central authority or government, there is less worker motivation.

You might be interested in
Which one of these people was NOT a Federalist?
Lorico [155]
It would be "Patrick Henry" who was not a Federalists, since Patrick Henry was in fact opposed to the ratification of the Constitution, which made him an "Anti-Federalist".
3 0
3 years ago
Through what other countries did north vietnamese troops move to invade south vietnam? ​​
Margarita [4]
Cambodia and Lao--these neighboring countries were the path for the North Vietnamese to reach the southern parts of Vietnam more quickly. 

Cambodia and Laos would be the located of the HoChi Minh Trail which was the supply line from the North to the South. Many parts of the trail were underground and difficult to get rid of. The US resorted to air strikes of the two countries which was controversial because they were technically neutral areas. 
8 0
3 years ago
What was Europe like after WW2? <br> the website given was not helpful. also No Links.
cluponka [151]

Answer:millions of people were dead and millions more homeless, the European economy had collapsed, and much of the European industrial infrastructure had been destroyed. The Soviet Union, too, had been heavily affected.

Explanation:

7 0
2 years ago
Which statements are accurate about Queen Mary?<br>plz help
V125BC [204]
She was Henry VIII's first daughter. She married King Philip of Spain even though the people of England were against the marriage.
6 0
3 years ago
Read 2 more answers
Why did the black power movement eventually become more prominent in the 1970s
gavmur [86]

Answer:

Black Power began as revolutionary movement in the 1960s and 1970s. It emphasized racial pride, economic empowerment, and the creation of political and cultural institutions

Explanation:

The 1965 assassination of Malcolm X, coupled with the urban riots of 1964 and 1965, ignited the movement. New organizations that supported Black Power philosophies ranging from the adoption of socialism by certain sects of the movement to black nationalism, including the Black Panther Party (BPP), grew to prominence.

6 0
2 years ago
Other questions:
  • Which of the following contributed to the Great Schism between the Eastern and Western Christian churches?
    5·1 answer
  • Eugene Debs became a Socialist in 1897 while
    6·2 answers
  • What empires facilitated trade and exchange in Afro-Eurasia?
    15·2 answers
  • What is one reason colonists came to America?
    5·1 answer
  • Sec 1 Causes of WW1 Quiz (assignment 10.3)
    12·1 answer
  • What were the effects of the crusades? HELPPP PLSSS
    11·2 answers
  • Match the descriptions to William Lloyd Garrison, Frederick Douglass, or both.
    12·1 answer
  • The MAIN attraction of Texas for many americans in the 1820s and 1830s was the..
    8·1 answer
  • The three major roles that government plays in our economy
    7·2 answers
  • How might japan’s invasion of china and the nanking massacre have affected relations between japan and western powers?.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!