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

Q: Why is immigration central to what a free market means?

A: Free market is a place where firms and households are allowed to make buying and supplying decision…

Q: State whether the following statements are true or false. The economic problem facing individuals,…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Traditional economy is the social and institutional process through which certain groups of economic…

A: The given statement is true.

Q: Comment on the degree to which a market economy establishes liberty for individuals.  Using ideas…

A: The economies around the globe work upon the basic idea of the study of economics, where the…

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: Identify the application of economic principles and theories to the present economic condition.

A: Economics hypotheses: These extensively fall under two classes: microeconomics and macroeconomics.…

Q: Which of the below statements DOES NOT capture Economics? Group of answer choices   Economics…

A: Scarcity: - it is a very basic problem of economics that is related to the limited availability of…

Q: Order each of the statements with regard to whether the economic activities in each statement are…

A: A market economy or laissez-faire economy is an economic system where decisions regarding production…

Q: Explain the operation of the “invisible hand” and why market economies usually do a better job than…

A: The concept of invisible hand was put forward by adam Smith.

Q: Bakers are much    likely to supply pastries to the market if property rights are not enforced.…

A: In economics, the term property right is one of the theoretically social-enforced concepts where…

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: why market economies usually do a better job than command economies at efficiently transforming…

A: Answer: Introduction: Market economy: it refers to the economy where there is no government…

Q: The role of government in a market economy would include all of the following except making and…

A: A market economy is a form of economic system where demand (DD) and supply (SS), rather than…

Q: Distinguish between positive economics and normative economics

A: Economics is the study of distribution, allocation and production of resources. The economy deals…

Q: Please give two advantages of a free market economy

A: Free market is the one where government does not make market decisions as the demand and supply of…

Q: Explain the concept of Pareto efficiency and discuss how it can be achieved through trade.

A: Pareto"s efficiency is defined as the economic situation when the circumstances of one individual…

Q: In market economies, most decisions are made by ___, while in command economies, most economic…

A: In a market economy, there is no government intervention, the market forces determined the…

Q: Social Darwinists had a different take on the utilitarian justification for free markets. They…

A: Economic competition refers to the situation where the firms are seeking for obtaining shares of…

Q: markets are quintessential examples of perfectly competitive markets. determine how financial…

A: Financial markets are ones where there is trade of foreign assets, government securities/bonds,…

Q: What are some examples of a command economy? Market Economy?

A: In a command economy, macroeconomic and political contemplations decide resource allocation. Command…

Q: Which of the following is not true about a mixed economic system?   a Some of the major resources…

A: A mixed economic system is secured from the amalgamation of a free-market and a command economy. It…

Q: Which of the following statements are false?   Group of answer choices   People respond to…

A: Perfect Competition refers to the type of market competition where there is free entry and exit of…

Q: Under the efficient level of production, the economy is getting all it can from the commonly…

A:

Q: It is clear that productive inefficiency is a waste since resources are used in a way that produces…

A: Allocative effeciency refers to an economic situation that is commonly found in the ideal…

Q: The greatest incentive for conserving scarce resources and using them in the most productive ways…

A: Natural Resources are materials from the Earth that are consumed to help life and address…

Q: Using a Production Possibility Frontier where beef and corn are produced, depict the following…

A: Production possibility frontier: Production possibility frontier/curve is the graphical presentation…

Q: List the characteristics of the four different types of market structures and give an example of…

A: Answer: Market structure can be divided majorly into four categories, it includes, perfect market,…

Q: Which of the following is not a typical characteristic of a market system? Multiple Choice a. profit…

A: A market economy refers to the type of economic system where demand and supply control the economy,…

Q: Which of the following statement is not true? * In mixed economy the factors of production depend on…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Discuss "MARKET ECONOMY (CAPITALISM)" with definition, characteristics, examples, advantages and…

A: Economic system refers to the type of system prevailing in the economy. There are three types of…

Q: What are the advantages of a market economy as compared to a command economy

A: Market economy is a type of economy in which the private businesses control economic matters.…

Q: The U.S. economic system is: O A command system A command and market mechanisms Based upon religious…

A: Command economy or command system is a economic system where government instead of free market…

Q: According to Smith, when private individuals are left free to seek their own interests in free…

A: Adam Smith was said to be the Father of economics.

Q: What are the Indicators of market potential according to Economic factors?

A: The economic indicators measure the performance of various variables and thus make predictions about…

Q: Capitalism

A: ‘Socialism’ and ‘capitalism’ are the two most important types of economy prevailing in our world…

Q: Why does the government answers the basic questions in mixed market economics

A: A system of economy which is a blend of capitalist and socialist system of economy is called mixed…

Q: why many argue the use of “market” prices will NOT necessarily enable the economy to operate at its…

A: Production frontier: PPF is a bend that delineates or shows the varieties in the sums that can be…

Q: Unlike a market economy, a command economy: a. Consumer sovereignty to make production decisions b.…

A: Economy of a country includes all the economic activities that are undertaken in the country.

Q: Market failure implies that the market mechanism... a)leads the economy to a point outside the…

A: Market Mechanism refers to a mechanism by which use the money to exchanged by buyers and sellers…

Q: Which of these statements does not apply to market economies? Select one: a. Prices influence how…

A: An economic system is referred to as a market economy. The interactions of a country's individual…

Q: Which one of the following is not likely to occur in a mixed economy? a. Means of productions are…

A: Which one of the following is not likely to occur in a mixed economy? The answer is - b. Total…

Q: What are the advantages of a free market economy?

A: A free market is a type of market economy where prices for all goods and services are regulated in…

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: Write an essay on Market Forces in the Development of Cities.

A: Urbanization can be defined as the actual development of metropolitan regions because of rustic…

Q: Choose the one that is correct about capitalist economic system. a. Private ownership of factors of…

A: . The main features of capitalism are economic freedom, voluntary exchange, private property rights,…

Q: Enumerate economic resources in the country considered as scarce, and suggest measures to resolve…

A: Scarcity denotes a finite and limited supply of resources. Because of the scarcity of resources, we…

Q: To what extent are free markets morally justified? In your answer, you may want to be clear about…

A: The markets are a distributive mechanism which would result in the allocation of the goods and…