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☆☆☆☆☆Cards in this guide (7)
Foreign economist and their contributions
Adam Smith, David Ricardo, Alfred Marshall and John Maynard Keynes
Whose economic theories did president roosevelt and his advisers advocate
John Maynard Keynes.
Division of labor results in
The division of labor generally leads to specialization in any production line. Furthermore, division of labor increases the efficiency of production and makes the process faster.
What is the difference between market economy and mixed economy
The difference between market economy and mixed economy is that a marked economy is a marked economy and a mixed economy is a mixed economy
How does the free enterprise system of the US promote individual initiative
The free enterprise system of the US promotes individual initiative because it propagates the idea that every individual can be an entrepreneur and start his own business.
Why is specialization a common result of free trade
competition encourages countries to specialize in what they do best
What determines the price of goods in a free enterprise system
Supply and demand
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