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A free market economy can be argued to be the best type of economy because it encourages private ownership of business. In other words, people make money for themselves, and whatever they make is theirs. There is lots of incentive to work because the more you work, the more you get in return of that work. Socialist command market systems have no incentive for working hard because their wealth is evenly distributed amongst the entire community. For example, a garbage man in China with two children would earn more profit in the long run than a doctor without any children. The doctor has no incentive to work hard and be good at his job because he doesn't reap his work's profits. This is why the free market system is thought to be the best type of economy.
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What is an example of market economy that you use?
Now a days China is the big and best example of market economy that we are used.
Which economic system best describes the United States?
The U.S. economy can be best described as socialism B. The U.S. economy is a pure market economy.
What is the best example of a mixed economy?
the best example of a MIXED ECONOMY is the market economy and a command economy
What type of economy best fits the description producers reacting to consumer choices provide most answers to the basic economic questions?
market
Which of the following terms best describes an economy in which producers of goods and services react to consumer choices?
market economy
Is Israel a market economey?
Israel does not have the best economy and it does need a little work... but what economy doesn't
What is an example of market economy that you use?
Now a days China is the big and best example of market economy that we are used.
Which economic system best describes the United States?
The U.S. economy can be best described as socialism B. The U.S. economy is a pure market economy.
What is Bolivia economy?
Market Economy.
What is the best example of a mixed economy?
the best example of a MIXED ECONOMY is the market economy and a command economy
What type of economy best fits the description producers reacting to consumer choices provide most answers to the basic economic questions?
market
Which of the following terms best describes an economy in which producers of goods and services react to consumer choices?
market economy
Which countries have a market economy?
Almost every country has a market economy; North Korea still has a command economy. WRONG^^ U.S. is rumored to be a market economy, but there are not pure market economy.
Does China have a market economy?
No, china does not have a market economy!
Is Bahrains economy command or market?
a market economy
What does a market economy encourages?
market economy encoursae
Is Greece market or command economy?
Market economy
