Answer:
capitalism
Explanation:
No country in the world is completely capitalistic or completely socialistic. Every government is a mixture of both, but most lean towards on side or the other.
The US was normally known as being the champion of capitalism, but when the republican party shifted its free market policies towards higher regulations and less trade, that started to change. On a capitalistic system, private entities (suppliers and consumers) decide how to allocate resources and they generally do it much more efficiently.
Pure capitalism doesn't accept governments, the laissez faire doctrine advocates for no government intervention, but in a real it is not possible.
Even in capitalistic countries, governments must exist and they need money to function, so they tax people and businesses. They also regulate some specific activities (e.g. monopolies, trade tariffs, etc.) and they try to redistribute wealth (e.g. welfare, unemployment benefits, free education, social security, etc.).
The US is still one of the most capitalistic countries in the world, although the last foreign policies point in another direction. Before the US advocated for free trade agreements and free trade zones, but that has been partially replaced by trade tariffs and quotas.
Answer:
5
Explanation:
If there is greater freeway congestion at 11 a.m than at 9am, it means that more people are using the road at 11am compared to 9am. This means that the demand to drive on the freeway at 11 a.m. is greater than the demand to drive on the freeway at 9 a.m.
If more people carpool at 11 a.m. than at 9 a.m, there would be less cars on the road at 11am. this would make the freeway less congested at 11am when compared to 9am
Answer:
Private Property - The right of private persons and firms to obtain, control, employ, dispose of, and bequeath land, capital, and other property.
Freedom of enterprise - The freedom of firms to obtain economic resources, decide what products to produce with those resources, and sell those products in markets of their choice.
Mutually agreeable - Economic transactions willingly undertaken by both the buyer and the seller because each feels that the transaction will make him or her better off.
Freedom of choice - The freedom of resource owners to dispose of their resources as they think best; of workers to enter any line of work for which they are qualified; and of consumers to spend their incomes in whatever way they feel is most appropriate.
Self-interest - What each individual or firm believes is best for itself and seeks to obtain.
Competition
- The presence in a market of independent buyers and sellers who compete with one another and who are free to enter and exit the market as they each see fit.
Market - An institution that brings buyers and sellers together.
