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Free market economies allocate resources through demand and supply with minimal government intervention.
private ownership- all factors of production within the economy are owned mainly by private individuals and organizations.
Free enterprise- owners of factors of production and producers of a goods and services a free to produce what they want through the market forces of demand and supply.
Competition- <span>Companies have a competitive drive, thus better quality goods and more variety of products which are at lower prices. (more productively efficient )</span>
Video news release (ignore what im typing in the parenthesis im taking up space)
Answer:
value
Explanation:
Opportunity cost or implicit is the value of the option forgone when one alternative is chosen over other alternatives.
For example, if I leave by job where i earn $100,000 per year to study economics in college. My opportunity cost is $100,000. This is the amount i would have been earning if i didn't go to college
Answer: D) poor planning.
Explanation:
It is in the Planning Stage that expectations are penned down. If this is not set out, people will.not know what is expected of them and as such will move with no specified DIRECTION on projects. In such a situation, business objectives can rarely be met.
Indeed, Poor Planning is one of the major causes of LOW PRODUCTIVITY and PROFITABILITY which is what West Side Groceries is currently going through.
