Capitalism

Q: Which of the following is an advantage of capitalist economy? a. Maximization of welfare b. Absence…

A: In a capitalist economy, the property and goods are owned and contolled by private individuals. The…

Q: Command economies are most likely to encourage an underground economy? true or false

A: The government determines in a command economy what goods and services will be generated, and what…

Q: Justify the claim that the economic basis of the Sumerian civilization laid in highly productive…

A: Sumeria civilization developed when Mesopotamia received almost no rainfall,but then Mesopotamian…

Q: Local government bans on plastic grocery bags due to environmental concerns have led to increased…

A: Economist argue that the free market allocates the goods efficiently so the government should not…

Q: How does self-interest help achieve society’s economic goals? Why is there such a wide variety of…

A: The self-interest varies according to various groups of individuals. The group of producers, who are…

Q: What are the characteristics of a good economic model?

A: Characteristics of a good economic model: 1) The acquisition cost is low compared to the cash flow…

Q: Capitalism is defined as an economic system in which a country's trade, industry and profits are…

A: Capitalism or in other words it is market market economy where the economic decision what to produce…

Q: Which of the following is not a typical characteristic of a market system? freedom of choice…

A: Option 3  Government production planning    the standard market system everything is closely-held…

Q: Is capitalism associated more with a market or command economy? Why would capitalism be able to do…

A: Capitalism is associated with market economy.

Q: Which one of the following models emphasizes on liberty and free choice? The American model…

A: There are different models to be used to explain the specfiic situation of the economy in terms of…

Q: Islam gives complete freedom to economic enterprise with ________ a. None of the options b.…

A: Answer Option 'C' is correct.   Islam gives complete freedom to economic enterprise with some…

Q: Capitalist economies have these features, except __________. a. Profit motive b. Consumer's freedom…

A: Economic system majorly categorized as market economy and command economy. Market economy is belief…

Q: Friedrich Hayek advocated for an economic system based on

A: In 1899, in Vienna, Austria, a famous economist was born. Friedrich Hayek is well-known in the…

Q: true or false free market economies are generally considered to be efficient and fair

A: # Free market economies are totally driven by the market forces of demand and supply.

Q: According to Juan Bosch, what percentage of the Dominican population depended upon Rafael Trujillo…

A: Haitians and Dominica-Haitians those born within the DR form an oversized minority within the DR.…

Q: India is a mixed economy where private and public sectors go side by side. Economic decisions are…

A: In a free market economy, the forces of market demand and supply determine the equilibrium level of…

Q: The political application of economic principles typically falls somewhere between two extremes:…

A: Here answer is “communism and Socialism”

Q: What attribute of capitalism will eventually lead to its collapse as claimed by Marx? How did this…

A: Marx believed that the capitalist system held the seeds of its own demise from the start.

Q: Rationing of most scarce goods and services in a capitalist economy is done by:   Group of answer…

A: Rationing is described as the artificial restriction of demand or the control over the allocation of…

Q: A Command Economy is characterized by which of the following? Lower individual taxes than in a…

A: The government which runs a command economy in turn operates businesses or entities of monopoly…

Q: What might have happened if the federal government had refused to provide relief for the millions of…

A: The Federal government takes several measures to ensure that economic activities happen smoothly,…

Q: Karl Marx envisioned a perfect society that would be based on a smoothly running capitalist system…

A: Communist society is a type of societal structure postulated in the Marxist thought that…

Q: Do you think a free market or a command economy is more likely to encourage productive and…

A: Command economy and free market are two opposite firms of an economy because command economy is the…

Q: Which of the following is true regarding this economic model?

A: In this diagram of circular flow there are two flows depicted. The monetary flow is depicted in…

Q: Define economics and describe the two types of economic systems: capitalism and command economy.

A: Economics refers to social science dealing with the generation, distribution, and the consumption of…

Q: How does the welfare state help stabilise the capitalist system?

A: How does the welfare state help stabilize the capitalist system? Capitalism(private ownership)…

Q: What are the major tenets of neoliberal economic policy?

A: Neoliberal school of thought has evolved post 1980s after Keynesian economics era had gone.…

Q: Why is private property and competition are the most important to a capitalist economy? Support your…

A: Capitalist economy is the economy in which majority of resources are owned by the private party.  In…

Q: Through economic reasoning, explain the interrelationship with markets and government.

A: There is a general law that determines the market's allocation of resources which reduces the…

Q: Which of the following is an advantage of socialist economy? a. Economic stability b. Bureaucratic…

A: In the socialist economy, goods and services are solely produced for the consumption purpose. All…

Q: The economy of South Korea would best be classified as: A. pure capitalism. B. a market system. C. a…

A: South Korea's economy is a highly developed mixed economy. Its economy ranks 10th globally and…

Q: Present and evaluate the claim that capitalism creates waste and false needs. If the claim is…

A: What is capitalism? Capitalism is a system of economic governance that has arisen in many contexts…

Q: In a command economy, the government has no role in the economy and makes no economic decisions.…

A: There are four types of economic systems: 1) Command Economies 2) Market Economies 3) Traditional…

Q: Why are no economies truly free, in the sense of having no controls or restrictions?

A: Economies cannot be set totally free because of negative economic experience that has been observed…

Q: The economic theory that states that the economy works best when it is left alone free from…

A: According to the given question Economic theories as stated as that theories which are very useful…

Q: In planned economic systems, government agencies control both supply and price of the products.…

A: In planned economic systems, government agencies control both supply and price of the products. This…

Q: Describe three different kinds of economic systems.

A: Different kinds of economic systems include;    1. A command economy    2. A market economy   3. A…

Q: Within a laissez faire system, the government should only perform those activities that the private…

A: An economic that works on the concept of the free market mechanism is essentially a capitalist…

Q: An economic system is an ongoing process whereby people exchange material goods and personal…

A: Economic System: The economic system is defined as a system used by the government and societies to…

Q: A large, hardworking population was important for Mercantilism. Why?

A: Mercantilism was a practice of trade practiced in  in the 16th till 18th century. This practiced in…

Q: This question is based on the following definitions below. Pure Capitalism Government does not…

A: Economic systems in the world are grouped into traditional, command, market, and mixed systems.

Q: An economic system is a mechanism that is used to organise an economy and to determine how the three…

A: An economic system is any system of dispensing scant resources. Economic frameworks answer three…

Q: True/False A Well tested or widely accepted economic theory is often called an economic principle

A: According to the given question Simply we can say that economic principles are those principles…