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self-interest means people act to better their life. they do this by becoming entrepreneur, getting jobs, buying things, and all of these things help the economy. entrepreneurs turn materials and money products and services, creating jobs and said products and services. people who get a job work to create products in services. then comes competition. in the free market, only the best get ahead, so companies try to make themselves more profitable by increasing efficiency, coming up with new ideas, etc. by doing this, more products and services are created per person, and therefor each person can have more products. basically, they create insentive for people to make more stuff, and therefor people can have more stuff.
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What invisible hand regulates the free-market economy?
competition and self interest
Self-interest is the motivating force driving the free market what is the regulating force?
competition
What was the key ideas of free-market system?
the law of self-interest the law of competition the law of supply and demand
How do you best describes the relationship between competition and a free-market economy?
The following statement best describes the relationship between competition and a free market system: Competition increases within a free market system.
What is the motivation behind the free market?
competition
what are competition and self-interest two important forces in?
Competition and self-interest are two important forces in market economies. Competition helps drive efficiency and innovation by encouraging firms to lower prices and improve quality to attract customers. Self-interest motivates individuals to work hard, innovate, and make decisions that benefit themselves, thus contributing to the overall growth and functioning of the economy.
Competition and self interest are two important forces in?
Competition and self-interest are two forces in free market economies.
What ''invisible hand'' regulates the free market economy?
competition and self-interest
What invisible hand regulates the free-market economy?
competition and self interest
Self-interest is the motivating force driving the free market what is the regulating force?
competition
What was the key ideas of free-market system?
the law of self-interest the law of competition the law of supply and demand
What was the key idea of free market system?
the law of self-interest the law of competition the law of supply and demand
How do you best describes the relationship between competition and a free-market economy?
The following statement best describes the relationship between competition and a free market system: Competition increases within a free market system.
What market structures can exist in a free market?
Oligopoly, Pure competition, Monopolistic competition
What is the motivation behind the free market?
competition
What is the regulating force in a free market?
competition.
What economic system allows competition?
The Free Market system is designed for competition.
