What are disadvantages of free market economy ?

Q: why it may be more difficult to bring more change in a traditional economy than in a market economy.…

A: Traditional economy: It is an economic system where the economic  decision are taken based in the…

Q: what is economic activity?

A: Economic Activity is not related to something specific, it includes the process of production,…

Q: Which activities are as important as the production of goods?

A: Production of goods refers to the creation of utility. This means combining raw material or input in…

Q: What are the four factors of production?

A: Factors of production: - factors of production are the resources used to produce goods and services.…

Q: What are the 3 basic economic questions?

A: The three basic questions in economics is are based on the choices that societies should answer in…

Q: show the difference between free market economy,planned economy,and economey of walfare state.

A: The main three economic system in our economy are market economy, planned economy and mixed economy

Q: In capitalist system, they are many fraud and illegal things happened. Why it happen?

A: There are various schools of economic thought, each with its own beliefs and principles. In a…

Q: In a market economy, economic activity is guided by Select one: O a. the government O b. central…

A: A market economy is that economy in which economic activities are not regulated by anybody. Instead,…

Q: How might the quality of life ultimately be determined and measured?

A: Standard of living is the level of comfort, necessities, material goods, and wealth available to the…

Q: What does the Third World country mean to the subjects of Economics?

A: In economics developing countries are known as third world country.

Q: Q.1. Explain with examples various economic systems exist in the world. Oman following which…

A: sorry for inconvenience however i can only answer 1 question (upto 3 subparts) in one session.

Q: What do you see as the biggest difference between market and non-market economies?

A: Market economy is run by private people. There is private ownership of factors of production in…

Q: A summary of The Four Factors of Production?

A: The four factors of production are land, labor, capital and entrepreneurship. These are the…

Q: Issues/problems of economy as a social institution? Explain and add a solution to that problem.

A: Issues and the problems identified in the economy as the social institution are the…

Q: what is micro economy?

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

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: How the government controls the market for a fair economic system in Islamic Economics scope?

A: Islamic economic system is the one that uses Islamic believes in running a business according to…

Q: what is micro economics?

A: Economics: The problem of scarcity induces to study the problem of choice at a social or national…

Q: What are the important forms of production?

A: The concept depicts the way in which businesses tend to take inputs and then convert them into…

Q: Which of the following is not a typical characteristic of a market system? A Freedom of Choice B…

A: The market is a location where the transaction of services and commodities takes place.

Q: What is economic system

A: An economic system is a method by which  governments or societies sort out and disperse accessible…

Q: Why are production and competitiveness important in today's economies?

A: Production increases competitiveness and competitiveness increases overall GDP in the economy.

Q: What goods and services—and how much of each—will be produced?

A: In a nutshell, an economy must distribute its resources and pick between several possible bundles of…

Q: Which economic system does a better job improving living conditions for the poor, capitalism or…

A: The system through which governments or society organizes and distributes the availability of…

Q: what are the drawbacks of china's market economy system?

A: China is the largest country in Asia and has the highest population in the world.  China follows a…

Q: Is there a change in the resources available to society? explain why.

A: Economics is the study of allocation of scarce resources among alternative uses to satisfy human…

Q: What determines the answers to the economic questions under a traditional economy?

A: Traditional economy explain 3 questions which are as:- 1 .what to produce? 2. How to produce? 3. For…

Q: How market mechanism solves the basic economic problems?

A: The market economy will help to solve the economic problems.

Q: What is the best economic system?

A: Capitalism is an economic system in which the production and distribution are privately owned, the…

Q: Characteristics of free market economy

A: In every economy, the resources available for satisfying the wants and desires of the individual are…

Q: How to identify the economic market structure?

A: Market structure is known as the basis through which different industries in an economy are…

Q: What are the best institutions for achieving economic goals?

A: An institution is a social structure in which people tend to cooperate and also influencing the…

Q: What Is Economic Conditions?

A: Economic Conditions: It is the present condition or state of the economy of a country. This…

Q: Explain one difference between planned economy and market economy?

A: Simply we can say that economy is considered as an resources and wealth of a division of a country…

Q: Explain the term free-market economy.

A: There are three types of economies: Free market economy Command economy Mixed economy

Q: hat are examples of free-market economies?

A: Below are the three types of economies:1. Free market economy2. Command economy3. Mixed economy In…

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: What is Economic community?

A: Economic community: When countries around the world are regional ones or in a certain cluster form…

Q: What is the Opportunity cost of farming ?

A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

Q: What are all the economic market structure and their differences? How to identify the market…

A: Dear Student as you have posted multiple questions, but we can attempt only 1 question at a time…

Q: what are differences between 4 economic systems?

A: An economic system is a way for governments or communities to distribute and organise resources,…