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Explain Why the law of demand can apply only in a free market economy?
The law of demand is that, all other factors held constant, the quantity of a good demanded increases as the price of that good falls. In a command economy, unlike a free market economy, it is the govenment, not market supply and demand,that determines prices.
Is it a good thing for countries to adopt a free market economy?
Countries development becomes more faster
Does Pakistan have a good economy?
The mixed economy is the name given to the economy of Pakistan. The economy of Pakistan is the 44th largest in the world in terms of the nominal GDP and the 26th largest in terms of the purchasing power parity.
What are 2 good things and 2 bad things about free enterprise system and market economy system?
i dink about this
Does fair trade benefit retailers more than LEDCs?
why is fair trade good for LEDCs
How are good resources distributed in a free market economy?
In a free market economy, goods and resources are distributed by property and supply/demand.
How are good and resources distributed in a free market economy?
Through prices
Explain Why the law of demand can apply only in a free market economy?
The law of demand is that, all other factors held constant, the quantity of a good demanded increases as the price of that good falls. In a command economy, unlike a free market economy, it is the govenment, not market supply and demand,that determines prices.
Does Ecuador have a command economy?
a good one, kinda raffael correa is the president
Is it a good thing for countries to adopt a free market economy?
Countries development becomes more faster
Does Pakistan have a good economy?
The mixed economy is the name given to the economy of Pakistan. The economy of Pakistan is the 44th largest in the world in terms of the nominal GDP and the 26th largest in terms of the purchasing power parity.
What are 2 good things and 2 bad things about free enterprise system and market economy system?
i dink about this
Does fair trade benefit retailers more than LEDCs?
why is fair trade good for LEDCs
How India is a socialist republic?
India is not a socialist republic. While the government controls a good deal of the economy, India has been moving towards a free market economy rapidly.
Does Japan have a mixed economy?
Actually there is no such perfectly free market economy. Every economy is mixed, although the countries may be lined up in economic spectrum depending on their economic freedom. Countries like Japan have mostly free economy and so is considered as a typical mixed economy.
Which of the following is not an example of one of the four main advantages of prices in a free market economy?
Consumers are willing to pay a higher price for a good, so producers manufacture more of the good.
What is the economic system in which private business operate competitively for profit with minimal government regulation?
An economic system in which businesses operate with little interference from the government is known as a free market economy. The United States is a good example of this type of economy.
