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Answer:
Entrepreneurs independently choose the field of activity, suppliers, contractors, markets. They have the right to engage in pricing, implement their long-term plans, as well as freely dispose of their property and income. The consumer in such a system is also independent. He is guided only by his needs and understanding of the marginal utility of the good. A market economy tends to self-regulate through a market mechanism. The gradual establishment of a balance of supply and demand contributes to the formation of equilibrium prices within which industries operate.
The internal rivalry of companies has a positive impact on the economic system of the country as a whole. Competition contributes to the expansion of production, its automation, optimization, implementation of innovative technologies and approaches to creating economic benefits. It encourages manufacturers to create exactly those goods and services that consumers need. Market self-regulation takes place through competition. The gradual establishment of the equilibrium of the system leads to a natural reduction in the cost of production, which in turn increases the wealth of the population and its degree of satisfaction with respect to the goods offered by the market.
Explanation:
Special slaves purchased for military service by the early Delhi sultans were called bandagan.
<h3>Who is a sultan?</h3>
Sultans were the rulers who governed their kingdom, they can also be termed, emperors. The word sultan is used in the Muslim culture.
There was special slave who was being taken by the Delhi Sultan, they were known as bandagan as these people are slaves were being specially transformed or being trained in how to manage our whole Kingdom.
These bandagan were sold for serving the military need of the sultans.
The Delhi Sultan would not hire any chief executive officer or higher level person but would appoint these places of the particular region who knew the rules and how to manage the place.
Learn more about Delhi sultans, here:
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it made him more determined because now he knows that knowledge is to be free
