1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lilit [14]
3 years ago
12

An economic system based on freedom of choice and privately owned factors of production is.

Business
1 answer:
Leto [7]3 years ago
8 0

The economic system based on freedom of choice and privately owned factors of production is known as : Capitalism.

<h3>What is capitalism?</h3>

Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. The capitalist is the one who is responsible for fixing the prices of his goods and his services.

One of the characteristic of capitalism is that the price of goods is determined by how many exist and the number of people who want them.

Other basic characteristics of capitalism include:

  • Private ownership
  • Capital accumulation
  • Wage labor
  • Price system.

Therefore, the economic system based on freedom of choice and privately owned factors of production is known as Capitalism .

Learn more about capitalism here : brainly.com/question/25879591

You might be interested in
The ending inventory of finished goods for each quarter should equal 25% of the next quarter's budgeted sales in units. The fini
saveliy_v [14]

Answer:

Production for 2nd Quarter = 15,000  units

Explanation:

given data

ending inventory of finished goods = 25 %

finished goods inventory at year start =  4,000 units

so we consider here Quarter sales in unit  

1 = 12,000

2 = 14,000

3 = 18,000

4 = 16,000

solution

we get here Production for 2nd Quarter  that is

Production for 2nd Quarter = Quarter 2 sale + Desired Q2 ending inventory - Beginning Q2 inventory  ...................1

so it will be as

Production for 2nd Quarter = Quarter 2 sale + (25% of Q3 Sale) - (25% of Q2 sale)

put here value

Production for 2nd Quarter = 14000 + (18000 × 25%) - (14000 × 25%)

Production for 2nd Quarter = 14000 + 4500 - 3500

Production for 2nd Quarter = 15,000  units

3 0
3 years ago
Which of the following events are examples of positive social media coverage?
swat32
- xcorporation announces the launch of its latest headphones on social media websites
-a  video featuring xcorporation talking about its new headphones goes viral
7 0
3 years ago
________ is the management of the network of interconnected steps involved in the provision of product and service packages.
inn [45]

Answer:

Management

Explanation:

4 0
3 years ago
What best describes the difference between the great leap forward in china and industrialization in europe? workers in the great
sladkih [1.3K]
<span>The Great Leap featured communes without machines, while European industrialization included factories.</span>
3 0
3 years ago
Read 2 more answers
In one of his weekly broadcasts, the Federal Reserve Chairman remarked that inflation had begun to tick upward. However, unemplo
VLD [36.1K]

Answer:

D) Monetary, fiscal

Explanation:

The Fed's dual mandate is to first promote a strong economy, but at the same time it must promote maximum employment, stable prices and moderate long term interest rates.

Monetary policy is carried out by the Fed through open market operations where it purchases or sells US securities, decreasing or increasing interest rates, and increasing or decreasing the money supply.

But if the interest rates are near 0, then the actions of the Fed are very limited regarding an expansionary monetary supply that would boost the economy and lower unemployment. There is basically no more room for lowering the interest rates.

So that means that the government must modify its fiscal policy to try to boost the economy. The government can either by increase spending, decrease taxes or a mixture of both. In this particular case, the Chairman of the Fed favors lowering decreasing taxes.

3 0
3 years ago
Other questions:
  • Sunland Company has 10,000 shares of 8%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividen
    8·1 answer
  • Steve went to his favorite hamburger restaurant with $3, expecting to buy a $2 hamburger and a $1 soda. When he arrived, he disc
    9·1 answer
  • How old is Donald Trump?
    9·2 answers
  • The aggregate demand curve Multiple Choice is upsloping because a higher price level is necessary to make production profitable
    14·1 answer
  • How can communicators show respect and communicate effectively and positively with people in other cultures?
    15·1 answer
  • g An increase in supply is represented by Group of answer choices a rightward shift of the supply curve. a leftward shift of the
    11·2 answers
  • Which student organization helps students with career development by having them become interns to sponsor conferences
    11·1 answer
  • Everyone has a different vision for what they like to do once they retire. List three things you think you'd like to do once you
    6·1 answer
  • COMO CREES QUE SE PODRIA SOLUCIONAR LA POBREZA ?? POR FAVOR DOY CORONA , Y CORAZON ( E QUE NO SEPA NO ESCRIBA ) :(
    8·1 answer
  • According to interdependency theory, the net profit or loss a person encounters in a particular interaction is known as the?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!