Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. economics
  3. imagine you are a consultant who has been asked to

Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of...

90.2K

Verified Solution

Question

Economics

Imagine you are a consultant who has been asked to summarize thestrengths and weaknesses of Agoria, a nation with a pure marketeconomy.

Which of the following would you include in your report asweaknesses of Agoria's economy? Check all that apply.

- Occupational choices can be restricted.

- Firms have no incentive to produce the so-called public goods,such as national defense, because private firms cannot preventnonpayers from enjoying the benefits of public goods.

- People with no resources to sell could starve (income isdistributed unequally).

- The economy experiences economic fluctuations, which arealternating periods of expansions and recessions in their level ofeconomic activity, especially in employment and production.

Answer & Explanation Solved by verified expert
4.2 Ratings (714 Votes)
In a purely free market economy the law of supply and demand rather than a central governmentregulates production and labourThe profit motive drives all commerce and forces businesses to operate as efficiently as possible to avoid losing market share to competitors From the given    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Using Python, write a simple application that takes user input of plaintext and key, and encrypt...

Programming
Q

17-1/What is meant by the term specific dynamic action of protein? Select one: a. When fasting, metabolism...

Medical Sciences
Q

Look closely at the song \"Who am I?\" and make a case for what kind of...

Psychology
Q

ght of 64 feet Use the interactive figure to find your answer Use the left...

Basic Math
Q

When the number 2 is written as an exponential expression with a base of 8,...

Algebra
Q

What is 2, 5a, and 5b International Business Machines...

Accounting
Q

Assuming a 12% annual interest rate, determine the present value of a five-period annual annuity...

Accounting
Q

Cmo calcular el perodo de recuperacin con flujos de efectivo irregulares? Ao...

Accounting
Q

Pharoah Luggage uses a periodic inventory system and has the following account balances: Beginning inventory...

Accounting
Q

Accounting for Marketable Securities Wharton, Inc. pays income taxes on capital gains at a rate...

Accounting
Q

Problem 2-16 (Algo) Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a...

Accounting
Q

Consider the following information and then calonlate the required rate of return for the Global...

Finance