Question

one characteristic that has allowed the US economy to change the mix of output in response to customer demand is

Answer 1

Answer:

The ease with which resources move from one industry to another.

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Command economy.

III. Traditional economy.

IV. Pure capitalism economy.

Pure capitalism also referred to as free-enterprise system or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a pure capitalism is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a pure capitalism is a type of economy that is completely driven by demand and supply of goods and services.

Hence, a characteristic that has allowed the economy of the United States of America to change the mix of output in response to customer demand is the ease with which resources move from one industry to another due to pure capitalism or its free-enterprise system.