Answer:
Consumer preferences and resource scarcity determine which goods are produced and in what quantity; the prices in a market economy act as signals to producers and consumers who use these price signals to help make decisions. Governments play a minor role in the direction of economic activity. true
Explanation:
Answer:
choose between two outcomes that are both desirable
Explanation:
One disadvantage of the privately owned media is that is can be biased and it is not obliged to provide impartial (unbiased) information.
For example if the owner of the media has some opinion, he or she can force his or her workers to favour this opinion and to avoid mentioning the opposite side.
One would cite the 8th Amendment to the Constitution.
Answer:
The new deal were a number of different reforms that were conducted under President Roosevelt between 1933-1939. The programs just ended before World War II began and were designed to help recover from the great Depression of the late 1920s.
Like any government reforms, there were both supporters and a vocal opposition.
Explanation:
<em>Argument 1 in favour:</em> The Great Depression had the greatest impact on the working class and the poor. Radical programs were needed to ensure the economy can grow, more jobs can be created and basic social needs met.
<em>Argument 2 in favour: </em>It is the responsibility of the government to ensure the poorest in the society do not suffer. Thanks to the reforms, the American economy rebounded and when the second war started,America was probably the most industrialised country in the world.
<em>Argument 1 against:</em> The American economy is built on the foundations of capitalism, free market and minimum government intervention. The reforms might seem good for now, but they are changing the way American government works and in subsequent years, companies will always look to the government for a bailout.
<em>Argument 2 against: </em>We cannot trust the government to make rational decisions. Such reforms are similar to the ones seen in Soviet Union and can lead to mismanagement of epic proportions.
