What happens in a market economy? Businesses decide which products to sell and which prices to charge. The government plans which products will be made and what to charge for them. Businesses offer a wide variety of goods and services to people. People make only what they need to survive and sell or trade with each other.

Answers

Answer 1

Answer:

Businesses decide which products to sell and which prices to charge.

Explanation:

A market economy is an economic system in which economic choices and the price of products and services are governed by interactions between individual individuals and enterprises in a country. There may be some government interference or central planning, but this word typically refers to a more market-oriented economy in general.

The majority of economic decisions in a market economy are made through voluntary transactions that follow the rules of supply and demand.A market economy allows entrepreneurs to pursue profit by producing outputs that are more value than the inputs they use, as well as the freedom to fail and go out of business if they do not.Economists generally agree that market-oriented economies provide superior economic outcomes, but they disagree on the exact balance of markets and central planning that is optimum for a country's long-term well-being.Understanding Market Economies

Classical economists such as Adam Smith, David Ricardo, and Jean-Baptiste Say provided the theoretical foundation for market economies. The "invisible hand" of the profit motive and market incentives, according to these classically liberal free market proponents, often steered economic decisions along more productive and efficient courses than government economic planning. They felt that government action frequently resulted in economic inefficiencies that harmed people.

Market Theory

Market economies use supply and demand dynamics to establish the proper prices and quantities for the majority of commodities and services in the economy. Entrepreneurs gather production inputs (land, labor, and capital) and combine them with workers and financial backers to generate goods and services for customers or other firms to purchase. Buyers and sellers willingly agree on the parameters of these transactions based on consumer preferences for specific commodities and the income that companies expect to make on their investments. Entrepreneurs allocate resources across multiple companies and production processes based on the profits they aim to generate by generating output that their consumers value more than what the entrepreneurs spent for the inputs. Entrepreneurs who succeed are rewarded with revenues that may be reinvested in future ventures, while those who fail must either learn to improve through time or go out of business.

Modern Market Economies

Every contemporary economy sits somewhere along a spectrum ranging from pure market to highly planned. The majority of industrialized economies are technically mixed economies because they combine open markets with some government intervention. However, they are frequently referred to as having market economies since they enable market forces to drive the great bulk of activity, with government intervention being limited to providing stability. Some government interventions, such as price fixing, licensing, quotas, and industry subsidies, may still occur in market economies. Market economies are most typically characterized by government production of public goods, often as a government monopoly. Market economies, on the other hand, are characterized by decentralized economic decision making by buyers and sellers doing regular business. Market economies are defined in particular by having functional markets for corporate control that allow for the transfer and rearrangement of economic means of production among entrepreneurs. Although the market economy is obviously the most popular system, there is much disagreement on the level of government involvement that is deemed desirable for successful economic operations. Economists generally believe that more market-oriented economies will be more successful in terms of generating wealth, economic growth, and rising living standards, but they frequently disagree on the precise scope, scale, and specific roles for government intervention that are required to provide the fundamental legal and institutional framework that markets may require in order to function well.


Related Questions

What do you need in order to develop more effective communication skills?

Answers

Explanation:
There are specific things to do that can improve your communication skills:



1. Listen, listen, and listen. People want to know that they are being heard. Really listen to what the other person is saying, instead of formulating your response. Ask for clarification to avoid misunderstandings. At that moment, the person speaking to you should be the most important person in your life. Another important point is to have one conversation at a time. This means that if you are speaking to someone on the phone, do not respond to an email, or send a text at the same time. The other person will know that she doesn’t have your undivided attention.

2. Who you are talking to matters. It is okay to use acronyms and informal language when you are communicating with a buddy, but if you are emailing or texting your boss, “Hey,” “TTYL” or any informal language, has no place in your message. You cannot assume that the other person knows what the acronym means. Some acronyms have different meanings to different people, do you want to be misunderstood? Effective communicators target their message based on who they are speaking to, so try to keep the other person in mind, when you are trying to get your message across.

3. Body language matters. This is important for face-to-face meetings and video conferencing. Make sure that you appear accessible, so have open body language. This means that you should not cross your arms. And keep eye contact so that the other person knows that you are paying attention.

4. Check your message before you hit send. Spell and grammar checkers are lifesavers, but they are not foolproof. Double check what you have written, to make sure that your words are communicating the intended message.

5. Be brief, yet specific. For written and verbal communication, practice being brief yet specific enough, that you provide enough information for the other person to understand what you are trying to say. And if you are responding to an email, make sure that you read the entire email before crafting your response. With enough practice, you will learn not to ramble, or give way too much information.

6. Write things down. Take notes while you are talking to another person or when you are in a meeting, and do not rely on your memory. Send a follow-up email to make sure that you understand what was being said during the conversation.

7. Sometimes it’s better to pick up the phone. If you find that you have a lot to say, instead of sending an email, call the person instead. Email is great, but sometimes it is easier to communicate what you have to say verbally.

8. Think before you speak. Always pause before you speak, not saying the first thing that comes to mind. Take a moment and pay close attention to what you say and how you say it. This one habit will allow you to avoid embarrassments.

9. Treat everyone equally. Do not talk down to anyone, treating everyone with respect. Treat others as your equal.

10. Maintain a positive attitude and smile. Even when you are speaking on the phone, smile because your positive attitude will shine through and the other person will know it. When you smile often and exude a positive attitude, people will respond positively to you.

Hope it helps =)

How does attitudes and stereotypes relate to Asian hate crimes?

Answers

Answer: As the United States struggles to open back up, Asian Americans remain anxious. Women and the elderly are taking self-defense classes; others are arming themselves for protection. Even parents are wondering if they should keep their children out of schools.There are 23 million Asian Americans and Pacific Islanders in the U.S., and ever since the pandemic began, a new poll suggests one out of every three fears they will be attacked, reports correspondent Weijia Jiang.Hate crimes overall increased last year by two percent, but hate crimes against the Asian American and Pacific Islander population rose by 146 percent, according to the Center for the Study of Hate and Extremism at California State University.

Explanation:

Which word fits in the least with the other words? O Windscreen O Roof O Road O Tyres O Bonnet​

Answers

Answer:

Road

Explanation:

All the other words are parts of a car - while the road is related to the car, it is not a part of it.

Hope this helped.

always my question will be ethiopian textbook!​

Answers

Answer:

okay come out with the question

HELP ME OUT PLS!!!!!!!!!!!!!!!!

24) Coach Tanner's comment indicates that he

A) is afraid that Austin may have another asthma attack.

B) feels the team has no chance of winning the big game tomorrow.

C) is pleased with the team's performance today at practice.

D) believes Austin's fears are keeping him from playing to his potential.​

Answers

D. believes Austin’s fears are keeping him from playing to his potential.

PLEASE I NEED IT RN PLEASE
A causal argument should

(Choose all that apply)

A.
review basic assumptions about the causes or effects of an event without providing evidence to back up those assumptions.

B.
analyze the causes or effects of an argument in-depth

C.
speculate about the causes of an event or the effects of an event without establishing clear evidence that links the two.

D.
investigate the links between an event and it's effects or the causes of an event.

Answers

Answer:

the answer is D,casual argument should investigate the links between an event and it's effects or the causes of an event

Which phrases best describe a person who is media literate? Check all that apply. someone who can understand why media was created someone who can analyze different forms of media someone who can evaluate the effectiveness of media someone who can stand up for an unpopular idea in the media someone who can circulate media with a specific effect

Answers

Someone who can understand why media was createdSomeone who can analyze different forms of mediaSomeone who can evaluate the effectiveness of media

The root of the word awkwardly is
A.
aw.
B.
ly.
C.
ward.
D.
awkward.

Answers

Answer:

A. aw

Explanation:

Its Middle English roots are awke, meaning "backhanded," and -ward, to "go in the direction of." So, if you are feeling uncomfortable, or clumsy, it's probably because your hands are connected to you the wrong way!

Hope this helps :)

Have a great rest of your day or night!

<3 simplysun

Does the world in general have influence in theater??

Answers

Answer: yes to extant

Explanation:

1. What is calm down? A do I think I should do C. I think should you do B. I think you should do D. I should think you do 2. Why the film is because it's far too long. A didn't I enjoy C. did I not enjoy D. I didn't enjoy the guitar was through my brother's best friend. A I came to be c. did I learn B. did I come to D. come to learn 4.1 play the piano since I was about six years old.​

Answers

Answer:

D.D.A.

The questions were challenging to read at first, but I solved it now. Hope this helps you!

student chapter packet weasel.

Answers

Answer:

Discovering things, and grief

Explanation:

Marx purpose was to persuade his audience of the pitfalls of capitalism. What counter claim can you think of for his belief that abolishing class supremacy will promeote development of all?

Answers

The counterclaim that Karl Marx was likely to have used to support his argument was that everyone should be equal which was his way of supporting socialism.

What is a Counter Claim?

This refers to the rebuttal of a claim by providing counterarguments and supporting details to prove that the original claim was incorrect.

Hence, we can see that Karl Marx wanted to persuade his audience about the dangers of capitalism, and he made use of the claim that abolishing class supremacy will promote the development of all to show that everyone should be equal.

Read more about counter-claim here:
https://brainly.com/question/13628349

Which sentence below correctly uses an Antonym of Esteem?

Answers

Answer:

B

Explanation:

the opposite of esteem is disdain

NEED HELP ASAP!!!
Write a narrative in which you describe the next scene that might take place in “The Story of Daedalus and Icarus.” Maintain the same point of view, mood/tone, and pacing of the original story. Be sure to observe the conventions of standard English. Your narrative should have an introduction, presentation and examination of the conflict, and a clear resolution.

Answers

The question wants to analyze your writing skill. For that reason, I cannot write the answer for you, but I will show you how to write it.

First, you should read the part of "The Story of Daedalus and Icarus" that the question refers to.

During this reading, you should identify the type of language used, the events that occur, and the tone and mood of the scene. That's because you should continue these events, keeping the language, tone, and mood of the original text.

To continue the event presented in the text, you must use your imagination as to how that event would continue.

Meaning of tone and moodTone: is the emotion conveyed by the author of the text.Mood: it is the ambiance and the feeling transmitted to the reader.

More information about tone and mood is at the link:

https://brainly.com/question/17958197

What time of day is this poet describing? in The Sun has long been set

Answers

Answer:

night

Explanation:

given that the poet is saying "the sun has long been set" it means that the sun has not just set, but it has been set for a long while, meaning it is nighttime

I had _____on the airplane. The strong wind made
me want to vomit.
Select one:
O a. insomnia
O b. nausea
O c. hiccups
O d. cough

Young-Mi lives in aín),____about 15 miles from downtown Seoul, Korea.
Select one:
a. urban area
b. subway
O c. suburb
O d. freeway

Answers

I had _____on the airplane. The strong wind made

me want to vomit.

Select one:

O a. insomnia

O b. nausea

O c. hiccups

O d. cough

Young-Mi lives in aín),____about 15 miles from downtown Seoul, Korea.

Select one:

O a. urban area

O b. subway

O c. suburb

O d. freeway

The person had nausea. Young-Mi lives in a suburb.

What is the meaning of suburb?

Suburb is "an outlying district of a city, especially a residential one".

I had nausea on the airplane. The strong wind made me want to vomit. An upset stomach known as nausea frequently precedes vomiting.

Young-Mi lives in aín, suburb about 15 miles from downtown Seoul, Korea. A suburb is always away form the city or town.

To learn more about nausea here

https://brainly.com/question/15312349

#SPJ2

In "Mending Wall," the speaker isn't necessarily the poet, Robert Frost. The speaker may be a persona—a fictional character created for the poem. Still, he's someone you can get to know if you pay attention to the words he uses and the imagery his words create. What kind of person does he seem like, based on his words?
Which one is better?
GRRRRRRRRRRRRRRRRRRRRRRRR

Answers

Answer:

If I had to be honest, they both look the best ;)

BORK BORK WOOF BORK WOOF

(b) Complete the sentence by filling in a cause or an effect as required. Circle what was needed to complete each sentence: cause or effect.

1. Melanie did not go to school because _______________________ cause/effect

2. Due to _______________________ Jason was late for work again. cause/effect


3. Since Zinzi bought all the chocolate in the shop, Sarah ________________

__________________________.

cause/effect


4. If ___________________________________________________, there

won’t be enough space in the car.

cause/effect


5. Khulani works late every Friday so that _________________________

___________________________.

cause/effect



6. Since Jamie’s parents found out about the party he hosted without their

permission, _______________________________________________________________.

cause/effect



7. Owing to _____________________________________, the

tickets were all sold out.

cause/effect



8. In view of Mandisa’s fear of heights, _________________________

__________________________.

cause/effect



9. As a result of Thabo’s silence, ________________________________________.

cause/effect​

Answers

Answer:

good luck to your modules

Helped


Helped
Help
Help
Help

Answers

Here is a picture of what the answers are for the statements on the right. You didn’t really explain what to do so I’m guessing that you just wanted to know which statement goes with which sentence. I color coded them so you know which lines it needs to be paired with.

On a map the direction opposite east is_____
Select one:
O a. south
O b. central
O c. north
O d. west
way to build up your arm
Swimming is not____muscles.
Select one:
O a. the most quick
b. quicker than
c. as quick as
O d. the quickest

Answers

westthe quickest

hope it helps..!!!

What is a composition

Answers

Answer:

he nature of something's ingredients or constituents; the way in which a whole or mixture is made up.

Explanation:

hope this helps

a 29. Carlo was lost. He didn't know where he was, or how to get where he was going. He had left the directions at home and he didn't have a map. Now, he was in a strange neighborhood and he was confused. If he could find a familiar landmark, he might figure things out. A. Wanting a map B. Carlo was lost C. Getting directions D. On his way to the party​

Answers

Answer:

c

Explanation:

If someone knowledgeable about a particular subject wished to write a persuasive essay about that subject, how might he appeal to ethos in the essay? A) by making a heartfelt and emotional plea B) by attacking those who disagree as ignorant C) by citing relevant facts, figures, and statistics D) by drawing attention to his or her own knowledge and scholarship

Answers

Answer:

C

Explanation:

It's the only one that is an actual answer having to do with facts

In Grendel, what poetic device is used in the phrase "stand stock-still" (35)?
O A. Thematic scene
O B. Alliteration
O C. Simile
O D. Paradoxical phrase

Answers

Answer: Alliteration

I hope it helps :)

What do they use to put out Polyphemus’s eye

Answers

They used a sharp stick

Correct all the sentence fragments and run-on sentences in the following:

I started the car. And quickly turned down the radio.
The boys are full of mischief. Always looking for trouble.
I waited at the starting line. To begin the race.
He arrived late. His reason being that he had an appointment elsewhere.
After much discussion. He approved the project.

Answers

Answer:

I started the car and quickly turned down the radio.

The mischievous boys are always looking for trouble.

I waited at the starting line to begin the race.

He arrived late because he had an appointment elsewhere.

After much discussion, he approved the project.

Explanation:

Jenny spent many years working toward her dream of making a living with her clothing designs, a dream that was _____ when she opened her own retail store downtown.
Group of answer choices

Mitigated

Consummated

Facilitated

Answers

Answer:

Fulfilled or Achieved.

Explanation:

This sentence means that Jenny got what she dreamt about in end. And this implies that she got a sense of accomplishment after all.

What resources or support do you need to become a nurse?

Answers

Answer:

American Academy of Nursing. ...

American Association of Nurse Practitioners. ...

American Medical Association. ...

American Nurse. ...

Clipboard Health. ...

International Council of Nurses. ...

National Council of State Boards of Nursing. ...

National Institute for Nursing Research.

Explanation:

there

18/Rules of capitalization are often ignored in which communication mediums?

A. Emails
B. Scholarly articles
C. Monthly magazine publications
D. Novels

Answers

Answer:

Emails

Explanation:

easy to get confused

A emails bc 18 rules of capitalism

I need help with this question

Answers

Answer: I believe that it would be remembering

Explanation:

Answer:

Explanation:

through understanding you recall previously introduced information

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