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A market economy recognizes, almost exclusively, the worth of an individual's economic endeavors - that is, their profession, job or business activities. The market fails to account for the intrinsic human value in each of us, or to measure contributions which don't bring monetary value and profit in the economic market. It also ignores that people with disabilities, illness, or advanced age may put forth the same effort, but lesser value in that effort. Therefore, an artist, a concert pianist, a person with disabilities, a philosopher, even a teacher will be valued according to what people will pay for their services, with little thought for actual contributions to the good of society.
What else can I help you with?
Why did the Southerners economy suffer after the Civil War?
Jesus made it that way
How might the economy suffer if there were no banks?
Capitalism would become impossible.
An economy that experience decreasing real GDP and increasing prices is said to suffer from what?
stagflation
Why are mixed economies so prevalent?
Most countries in the world today operate under a mixed economy because in a mixed economy, one person or the government does not own everything. This means that, for example, if you owned a herd of cows, since it is a mixed economy, you own the herd but you would still have to follow the government regulations. In a command economy, the government controls all production and distribution of goods and services. In a traditional economy, the decisions are based on customs, beliefs, or religion, within a strong social community, and in a market economy, businesses and consumers decide what they will produce or purchase. It's better to have all 3 economies combined into a mixed economy, rather than having only a market economy, a traditional economy, or a command economy.
Why does over reliance on one product weaken an economy?
Overreliance on a single product can weaken an economy by creating vulnerability to market fluctuations, such as price volatility or changes in consumer demand. If the product experiences a downturn, the entire economy can suffer, leading to job losses and reduced investment. Additionally, it stifles innovation and diversification, making it harder for other sectors to develop and thrive. This lack of economic resilience can hinder long-term growth and stability.
Who has the power in a market economy such as ours?
In market economy, market itself is the sole arbiter and has the deciding power in which way the economy will turn. While government has little power of interference in market economy, many factors play pivotal role there. While Indian economy gained much from record low crude price and big inflow of foreign institutional investments, may suffer in the future with its reverse trends.
What happens if the economy fails?
If economy fails the worst suffer would be citizens, there would be war situation within that economy.
Why did the Southerners economy suffer after the Civil War?
Jesus made it that way
How might the economy suffer if there were no banks?
Capitalism would become impossible.
How would the economy suffer from banning travel if people had the Swine Flu?
The economy would suffer because the people who traveled from a state who had the swine flu and traveled to America and then they will give it to other people here in the United States.
How do you respond to christian suffering?
In 1 Corinthians Ch.12, Christians are likened to a human body in that our head is Christ and we are all members one of another. As such we really feel it when other Christians suffer, and it is written in vs. 26: "And whether one member suffer, all the members suffer with it; or one member be honoured, all the members rejoice with it."
An economy that experience decreasing real GDP and increasing prices is said to suffer from what?
stagflation
Do homeless people commit suicide?
Yes! There are many valid reasons to commit suicide in this economy. The economy isn't in the kind of shape to be able to help anyone, and won't be for a very long time, so you're just going to suffer. Why suffer?!
What happens if the bailout doesn't work?
The recession would continue & The economy would continue to suffer
What is the importance of tourism attractions?
For some cities and areas, tourism is the greatest part of the economy. Without the attractions that tourists visit, the economy would greatly suffer.
Will there be any change in performance if the exhaust 02 sensor is disconnected?
Yes, performance and fuel economy will suffer.
What is one of the ways in which will be affected if there is an overall rise in temperature?
the economy in areas which rely on winter tourism will suffer.
