Answer:
B) Freedom of choice and enterprise are essential elements of the market system.
Explanation:
A free market system is a system where private parties (suppliers and consumers) decide how resources will be allocated. Consumers are free to decide whether they like or not a product and whether they will purchase it or not. On the other hand, producers are free to decide whether to produce one product or a totally different one, and at what price they want to sell it. Te free market system is extremely efficient in getting goods to consumers that value them the most.
There are no kings in a free market system, and though it is very efficient in creating overall wealth, it is not efficient in distributing wealth and income.
1 - Point-of-Sale Display
2 - Sampling
3 - In-Store Promotion
4 - Event Marketing
Answer:
Nominal wages will fall, and the short-run aggregate, supply curve, shifts to the right.
Explanation:
When the economy is on the short-run aggregate supply curve and to the left of the long-run aggregate supply curve, actual aggregate output will eventually equal potential output as nominal wages fall(s) and the short-run aggregate supply curve shifts to the right.
Answer: Downward sloping
Explanation:
The Aggregate demand curve shows the national income in a country and the reason the AD is downward sloping is to represent that when the price level increases, the national income will drop because people now have to spend more for goods and services.
There are different factors that go into the AD curve but the basic premise is that when prices are high, people can only afford less so the demand decreases.
