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
NeX [460]
2 years ago
9

Describe the features of the Free-market system

Mathematics
2 answers:
meriva2 years ago
5 0

Answer:People often use the terms free enterprise, free market, or capitalism to describe the economic system of the United States. A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition.

Step-by-step explanation:

Cloud [144]2 years ago
3 0

Answer:

  • Feature 1 # Property Rights:

Property rights are social institutions that govern the ownership, use and disposal of resources, goods and services.

  • Feature 2 # Freedom of Private Enterprise:

Allied to the property rights is freedom of enterprise which is another basic feature of a market economy. Freedom of enterprise means that everybody is free to engage in whatever economic activity he pleases. In other words, he is free to choose to work in any industry he likes or adopts any occupation or trade he desires.

  • Feature 3 # Profits and Prices: Incentives and Information:

No individuals would work and save if adequate incentives are not provided to them in the form of wages and interest respectively. Similarly, the firms will not produce goods and services and bear risk of losing money if sufficient incentives are not given to them. Profits are earned from undertak­ing the task of producing goods and services and introducing new products and new techniques of production. Profits earned by the firm depend on prices of goods and services produced and cost incurred.

  • Feature 4 # Competitive Markets:

In ordinary speech the word market means a place where buyers and sellers meet to buy and sell goods. In economics, market has a wider meaning and is interpreted to mean any arrangement that enables buyers and sellers to exchange things; they may contact each other through telephone, fax or direct computer link to negotiate prices of goods they buy and sell. In our above example, rational and self-interested consumers and profit-maximizing firms contact each other through any media and buy and sell things on the negotiated price.

You might be interested in
Sheila was given $30.00 for her birthday and spent $18.79 on a CD. How much was her change?
Elis [28]

Answer:

<em>$11.21</em>

Step-by-step explanation:

$30.00 - $18.79 = $11.21

4 0
3 years ago
Read 2 more answers
Each pair of shapes is congruent. Identify a transformation or sequence of transformations that could take one
Tema [17]

Answer:

When one shape can become another using only Turns, Flips and/or Slides, then the two shapes are Congruent. Two shapes are Similar when we need to Resize for one shape to become another (we may also Turn, Flip and/or Slide). So, when one shape can become another using transformation, the two shapes might be Congruent or just Similar?

Step-by-step explanation:

7 0
2 years ago
Determine if the figures below are congruent? Explain why or why not. I need it for a test please answer fast!
Rus_ich [418]

Answer:

Yes they should be congruent ones just at a different angle.

Step-by-step explanation:

6 0
3 years ago
What is the mean for the data set?
PIT_PIT [208]
83.3
Just add up all the numbers and divide by 6, as there are six numbers in this set of numbers
7 0
2 years ago
Read 2 more answers
Explain how to use a horizontal number line<br> to order four fractions from least to greatest.
horsena [70]

Answer:

To order fractions from least to greatest, start by finding the lowest common denominator for all of the fractions. Next, convert each of the fractions by dividing the lowest common denominator by the denominator and then multiplying the top and bottom of the fraction by your answer.

Step-by-step explanation:

Solution for the above problem: We first find the least common denominator by finding the least common multiple for 4, 3, 2, 6, and 8. We find the LCM by the prime factorization method. Next, place the fractions in order from least to greatest.

4 0
3 years ago
Other questions:
  • The area of the rectangle is 26cm2. Find the missing side length
    13·1 answer
  • What is the value of x in the following equation, x/4 = -120? (Btw, it's x over 4 not division :)
    13·2 answers
  • The temperature of an enclosure for a pet snake should be about 80°F, give or take 5°F. What are the maximum and minimum tempera
    15·2 answers
  • myra swims 3/5 of a mile farther than luke.if luke swims 2 and 4/10 miles, how many milrs does myra swim?
    11·2 answers
  • Please help me complete
    13·1 answer
  • you buy butter 4.13 a pound one portion of onion requires 1.7 oz of butter how much dose the butter for one portion cost
    11·1 answer
  • PLEASE HELP ASAP GIVING BRAINLIEST W/ POINTS PLSS
    5·1 answer
  • Your friend finds the area of a circle with a diameter of 9 inches. Is your friend correct? Explain
    8·1 answer
  • 40. A triangle is placed inside of a circle of radius 3x. The base of the
    15·1 answer
  • A food truck sells latin american street tacos. The graph shows the number of corn tortillas needed for different numbers of the
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!