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Which of the following statement does not apply to market economy? 1 point Firm decide whom to hire and what to produce Firms aim at maximizing profit Government policies are the primary forces that guides the decision of firm and household House sold decides which firms to work for and what to buy with their incomes Other:?
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Which of the following statement does not apply to market economy? 1 p...
Market Economy: An Overview
A market economy is an economic system in which decisions regarding investment, production, and distribution are based on the interplay of supply and demand, which determines the prices of goods and services. In a market economy, the economy is driven by the decisions of firms and households, and the government plays a minimal role. The following statements apply to a market economy:
Firms decide whom to hire and what to produce:
In a market economy, firms are free to make decisions concerning the production and distribution of goods and services. They decide what to produce based on what consumers demand and what they believe will be profitable.
Firms aim at maximizing profit:
In a market economy, firms are motivated by the desire to earn a profit. They aim to produce goods and services at the lowest possible cost and sell them at the highest possible price.
Households determine which firms to work for and what to buy with their incomes:
In a market economy, households are free to make their own decisions regarding which firms to work for and what to buy with their incomes. They are motivated by their own self-interest and seek to maximize their own utility.
Other:
The statement that does not apply to a market economy is "government policies are the primary forces that guide the decision of firms and households". In a market economy, the government plays a minimal role and does not guide the decisions of firms and households. The government's primary role is to provide a legal framework that protects property rights and enforces contracts.
A market economy is an economic system in which decisions regarding investment, production, and distribution are based on the interplay of supply and demand, which determines the prices of goods and services. In a market economy, the economy is driven by the decisions of firms and households, and the government plays a minimal role. The following statements apply to a market economy:
Firms decide whom to hire and what to produce:
In a market economy, firms are free to make decisions concerning the production and distribution of goods and services. They decide what to produce based on what consumers demand and what they believe will be profitable.
Firms aim at maximizing profit:
In a market economy, firms are motivated by the desire to earn a profit. They aim to produce goods and services at the lowest possible cost and sell them at the highest possible price.
Households determine which firms to work for and what to buy with their incomes:
In a market economy, households are free to make their own decisions regarding which firms to work for and what to buy with their incomes. They are motivated by their own self-interest and seek to maximize their own utility.
Other:
The statement that does not apply to a market economy is "government policies are the primary forces that guide the decision of firms and households". In a market economy, the government plays a minimal role and does not guide the decisions of firms and households. The government's primary role is to provide a legal framework that protects property rights and enforces contracts.
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Which of the following statement does not apply to market economy? 1 p...
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Which of the following statement does not apply to market economy? 1 point Firm decide whom to hire and what to produce Firms aim at maximizing profit Government policies are the primary forces that guides the decision of firm and household House sold decides which firms to work for and what to buy with their incomes Other:?
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Which of the following statement does not apply to market economy? 1 point Firm decide whom to hire and what to produce Firms aim at maximizing profit Government policies are the primary forces that guides the decision of firm and household House sold decides which firms to work for and what to buy with their incomes Other:? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statement does not apply to market economy? 1 point Firm decide whom to hire and what to produce Firms aim at maximizing profit Government policies are the primary forces that guides the decision of firm and household House sold decides which firms to work for and what to buy with their incomes Other:? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement does not apply to market economy? 1 point Firm decide whom to hire and what to produce Firms aim at maximizing profit Government policies are the primary forces that guides the decision of firm and household House sold decides which firms to work for and what to buy with their incomes Other:?.
Which of the following statement does not apply to market economy? 1 point Firm decide whom to hire and what to produce Firms aim at maximizing profit Government policies are the primary forces that guides the decision of firm and household House sold decides which firms to work for and what to buy with their incomes Other:? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statement does not apply to market economy? 1 point Firm decide whom to hire and what to produce Firms aim at maximizing profit Government policies are the primary forces that guides the decision of firm and household House sold decides which firms to work for and what to buy with their incomes Other:? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement does not apply to market economy? 1 point Firm decide whom to hire and what to produce Firms aim at maximizing profit Government policies are the primary forces that guides the decision of firm and household House sold decides which firms to work for and what to buy with their incomes Other:?.
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