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Why is there less economic growth with a command economy?
There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
What does profit motive ensure in a mixed economy and why is it important to protect it?
In a mixed economy, profit motive ensures that businesses strive for efficiency, innovation, and responsiveness to consumer needs, driving economic growth and improving overall welfare. Protecting the profit motive is essential because it incentivizes entrepreneurs to invest and take risks, thereby fostering competition and enhancing product quality and variety. Without this motivation, there could be stagnation in economic development and a decline in the standard of living. Balancing profit motives with regulatory measures helps maintain ethical practices and social equity.
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.
Is it true that in planned econonmy there is no profit motive?
Yes, it is true that in a planned economy, the profit motive is largely absent. Instead of private individuals or businesses seeking to maximize profits, the government or central authority controls production and distribution, aiming to meet societal needs and goals. Resources are allocated based on a centralized plan rather than market competition, which diminishes the role of profit as a driving force in economic decisions.
What are the key features of an economic system characterized by private or corporate ownership of capital goods?
An economic system with private or corporate ownership of capital goods is known as capitalism. Key features include private ownership of businesses, competition in the market, profit motive driving decision-making, and limited government intervention in the economy.
Why is there less economic growth with a command economy?
There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
What does profit motive ensure in a mixed economy and why is it important to protect it?
In a mixed economy, profit motive ensures that businesses strive for efficiency, innovation, and responsiveness to consumer needs, driving economic growth and improving overall welfare. Protecting the profit motive is essential because it incentivizes entrepreneurs to invest and take risks, thereby fostering competition and enhancing product quality and variety. Without this motivation, there could be stagnation in economic development and a decline in the standard of living. Balancing profit motives with regulatory measures helps maintain ethical practices and social equity.
The primary french motive in aiding the American cause was?
To weaken England
What is non example for motive?
A non-example of a motive would be a random action taken without any intention or reason, such as accidentally spilling a drink. Unlike a motive, which involves a purpose or desire driving a behavior, this act is not guided by any underlying intent or goal. Therefore, it doesn't illustrate the concept of a motive.
What best summarizes the imperialistic motive of economic interests?
There was a driving need for new markets and more resources
Which best summarizes the imperialist motive of economic interests?
There was a driving need for new markets and more resources.
What best summarizes imperialistic motive of economic interests?
There was a driving need for new markets and more resources
What best summarizes the imperialistic motive economics interests?
There was a driving need for new markets and more resources
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.
Is it true that in planned econonmy there is no profit motive?
Yes, it is true that in a planned economy, the profit motive is largely absent. Instead of private individuals or businesses seeking to maximize profits, the government or central authority controls production and distribution, aiming to meet societal needs and goals. Resources are allocated based on a centralized plan rather than market competition, which diminishes the role of profit as a driving force in economic decisions.
What is a by-motive?
A by-motive is a hidden motive.
What does it mean to question a motive?
Questioning a motive involves doubting or probing the reasons behind someone's actions or decisions to understand their intentions or underlying goals. It seeks to uncover the true purpose or driving force behind a behavior or choice.
