0
Producers are driven to lower costs due to the freedom of consumer choice provided by free-market system. To lower costs, producers have to eliminate wastes which brings about efficiency
What else can I help you with?
Why is the free-market system system brings effiency as well as freedom?
Producers are driven to lower costs due to the freedom of consumer choice provided by free-market system. To lower costs, producers have to eliminate wastes which brings about efficiency
Why the free market system brings efficiency as freedom?
According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. That's also an example of freedom of choice.
Explain why the free market system brings efficiency as well as freedom?
According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. That's also an example of freedom of choice.
Why free-market system brings efficiency?
According to economists, the free market system brings efficiency because customers are free to buy from whatever company they want to buy from. That's also an example of freedom of choice.
What are the three basic characteristics of a capitalist system?
Private Property, a market system, and worker freedom.
Which economic goals are difficult to achieve in a pure market system?
efficiency and freedom
What is the name of economy with producers freedom?
The type of economy that offers producers freedom is a market system. Individuals control production. A country that uses this type of system is Chile.
Describe two benefits you enjoy because of the free-market system Be sure to state why the free-market system brings each of these benefits?
Better goods and services, plus we control our own production
The three basic characteristics of a capitalist system are?
private property, a market system, and worker freedom
What are the five features of your market economy?
There are five features that describe market economy. They are freedom of choice, motive of self-interest, competition, system of market and prices and limited government.
What four things make the market system work in economics?
Competition, profit, private property, and freedom of exchange.
What is the economic system of Austria?
Australia has a mixed-market economic system in which there is a mixture of control by the government and freedom of individual enterprise and in which the basic economic questions ...
