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MaRussiya [10]
2 years ago
13

A market economy is a system in which supply and demand regulate the economy, rather than the government. Some characteristics a

re:  private ownership of property and resources  economic decisions made by buyers and sellers  profit motive  free enterprise Why is competition and some government regulation important to the successful growth of a market economy? Give two explanations for the importance of competition in a market economy and two reasons why it is important to have minimal government regulation in a market economy.
Thanks!!!!
Law
1 answer:
Fynjy0 [20]2 years ago
8 0

Answer:

The following are constructed response questions that have been on Final Exams or MSLs given by the state of NC:

Sample #1: Read the excerpts to respond to the item below.

           There should be no bitterness or hate where the sole thought is the welfare of the United States of                   America . . . we will continue to seek to improve working conditions for the workers of America—to                    reduce hours over-long, to increase wages that spell starvation, to end the labor of children, to wipe                out sweatshops. Of course we will continue every effort to end monopoly in business, to                                    support collective bargaining, to stop unfair competition, to abolish dishonorable trade practices.

                                                                                                                                - Franklin D. Roosevelt, 1936

         

          The Great Society rests on abundance and liberty for all. It demands an end to poverty and racial                    injustice, to which we are totally committed in our time. But that is just the beginning.

                                                                                                                                 - Lyndon B. Johnson, 1964

           Evaluate the degree to which the principle to “promote the general welfare,” as mentioned in the             Preamble to the U.S. Constitution, has been used to maintain constitutional democracy in the                 United States. Use one detail from the excerpts above to support your position.

Sample #2

           The Research Triangle Park (RTP) is one of the largest research parks in the United States. It was             created in 1959 by state and local governments and is located near several universities in the                 Raleigh, Durham, and Chapel Hill area. The park is home to over 170 businesses,                                        ranging from biotechnology to finance. It serves as a model for research innovations, education,             and economic development.

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The case portrays the need for a review of income and property taxes, highlighting information on which taxes should or should not have their exemption limits extended and how this affects the country's infrastructure.

Accordingly, we can answer the other questions as follows:

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<h3>How does the survey present this information?</h3>

The research shows that the income import should matter the exemption in the poorest population and this is a way to promote more taxpayers for this tax. This is because by allowing poor people to be exempt from income tax, the State promotes economic ascension, allowing these people to reach higher economic levels and leave the lower classes, becoming taxpayers.

However, the research is in favor of extending the exemption limits for property tax. This is because these taxes must fall on people who own buildings and residences. These people have a higher economic standard and are easily identified since the properties are immovable assets.

Learn more about income tax:

brainly.com/question/17075354

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