0
What else can I help you with?
In his economic system Smith believed that the basic economic questions were answered by the?
market xtine In short, the economic activities in the Philippines are both free of intervention and with government regulations. It may be regared as mixed economy.
What are the reasons for government involvement in economic activities?
There are many reasons for government involvement in economic activities. The government would check activities to make sure that prices are fair, employment is fair, and the pay for employees is fair and equal.
Adam Smith believed that government should never intervene in a state's economy but instead allow?
Adam Smith believed that government should never intervene in a state's economy but instead allow the forces of supply and demand to regulate markets naturally. He argued that individuals pursuing their own self-interest would lead to economic prosperity and benefit society as a whole, a concept famously known as the "invisible hand." Smith advocated for minimal government interference, emphasizing that competition and free trade would drive innovation and efficiency. Ultimately, he viewed a free market as essential for fostering economic growth and improving living standards.
What economic term describes a policy of allowing events to take their own course and stresses that the government not intervene in the market place?
Laize Fair
What government controls economic activities but people own property?
fascism
Why did Adam Smith believed that government should never intervene in a state's economy but instead allow what?
Adam Smith believed that government should never intervene in a state's economy because he advocated for the principle of the "invisible hand," where individuals pursuing their own self-interest ultimately benefit society as a whole. He argued that free markets, driven by competition and consumer choice, lead to more efficient allocation of resources. Government intervention, in his view, would disrupt this natural order and hinder economic growth and innovation. Instead, he supported minimal government involvement, primarily to maintain law and order and protect property rights.
The economic doctrine that opposes government interference in economic activities is called?
The economic doctrine that opposes government interference in economic activities is called laissez-faire. This principle advocates for minimal government intervention in the marketplace, allowing supply and demand to dictate economic outcomes. Proponents believe that free markets lead to more efficient resource allocation and greater overall prosperity.
What was fdrs guiding philosophy?
Franklin D. Roosevelt's guiding philosophy, often referred to as the "New Deal," was based on the belief that the government had a responsibility to actively intervene in the economy to provide relief, recovery, and reform during the Great Depression. He believed in the power of government programs and infrastructure projects to stimulate economic growth and improve the lives of the American people.
Can economic analysis provide a final answer to the question of whether the government should intervene in markets by imposing price ceiling and price floors?
Economic analysis cannot provide such an answer because it seeks to address positive questions such as "what is."
How are the three basic economic questions answered in the united stated be specific?
What to produce, how to produce it, and who to produce it for (the 3 economic questions) are answered primarily by private companies in the U.S. Rarely does the government intervene in private sector production.
Who insisted that type of government depended on economic and geographic factors?
Karl Marx insisted that the type of government depends on economic and geographic factors. He believed that the economic structure of a society influences its political structure and that different economic systems would result in different forms of government.
Is traditional economic activities are called early economic activities?
Yes, the traditional economic activities are the same as the ealy economic activities.
