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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.
Reason (R): Market economies make best use of available resources to economic growth.
- a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).
- b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).
- c)Assertion (A) is true but reason (R) is false.
- d)Assertion (A) is false but reason (R) is true.
Correct answer is option 'B'. Can you explain this answer?
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Directions: In the following questions, a statement of assertion (A) ...
Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. It is this rational self-interest that can lead to economic prosperity.
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Directions: In the following questions, a statement of assertion (A) ...
Assertion (A): Capitalist economies foster self-interest and push economic growth.
Reason (R): Market economies make the best use of available resources for economic growth.
Explanation:
Capitalist Economies Foster Self-Interest and Push Economic Growth
- Capitalism is an economic system where the means of production and distribution are privately owned and operated for profit.
- In capitalist economies, individuals and businesses are driven by self-interest and the pursuit of profit.
- Self-interest motivates individuals to work hard, innovate, and take risks to improve their own economic well-being.
- As individuals pursue their self-interest, the economy as a whole benefits from increased productivity, economic growth, and higher standards of living.
- Capitalist economies encourage competition, which leads to efficiency and innovation as businesses strive to offer better products and services at competitive prices.
- The profit motive in capitalism serves as an incentive for individuals and businesses to invest, expand, and create jobs, further stimulating economic growth.
Market Economies Make the Best Use of Available Resources for Economic Growth
- Market economies are characterized by the free exchange of goods and services through voluntary transactions between buyers and sellers.
- In a market economy, prices are determined by supply and demand, and resources are allocated based on market forces rather than central planning.
- The price mechanism in a market economy signals the relative scarcity and value of goods and services, guiding producers and consumers in their decision-making.
- Market economies allow resources to be allocated efficiently based on consumer preferences and the profitability of different goods and services.
- The competition among producers in a market economy encourages the efficient use of resources as businesses strive to minimize costs and maximize profits.
- The decentralized decision-making in a market economy ensures that resources are directed towards the most productive and valued uses, promoting economic growth.
Conclusion
Both the assertion and the reason are true. Capitalist economies do foster self-interest and push economic growth, and market economies do make the best use of available resources for economic growth. However, the reason does not fully explain why capitalist economies foster self-interest and push economic growth, so the correct answer is option B.
Reason (R): Market economies make the best use of available resources for economic growth.
Explanation:
Capitalist Economies Foster Self-Interest and Push Economic Growth
- Capitalism is an economic system where the means of production and distribution are privately owned and operated for profit.
- In capitalist economies, individuals and businesses are driven by self-interest and the pursuit of profit.
- Self-interest motivates individuals to work hard, innovate, and take risks to improve their own economic well-being.
- As individuals pursue their self-interest, the economy as a whole benefits from increased productivity, economic growth, and higher standards of living.
- Capitalist economies encourage competition, which leads to efficiency and innovation as businesses strive to offer better products and services at competitive prices.
- The profit motive in capitalism serves as an incentive for individuals and businesses to invest, expand, and create jobs, further stimulating economic growth.
Market Economies Make the Best Use of Available Resources for Economic Growth
- Market economies are characterized by the free exchange of goods and services through voluntary transactions between buyers and sellers.
- In a market economy, prices are determined by supply and demand, and resources are allocated based on market forces rather than central planning.
- The price mechanism in a market economy signals the relative scarcity and value of goods and services, guiding producers and consumers in their decision-making.
- Market economies allow resources to be allocated efficiently based on consumer preferences and the profitability of different goods and services.
- The competition among producers in a market economy encourages the efficient use of resources as businesses strive to minimize costs and maximize profits.
- The decentralized decision-making in a market economy ensures that resources are directed towards the most productive and valued uses, promoting economic growth.
Conclusion
Both the assertion and the reason are true. Capitalist economies do foster self-interest and push economic growth, and market economies do make the best use of available resources for economic growth. However, the reason does not fully explain why capitalist economies foster self-interest and push economic growth, so the correct answer is option B.
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer?
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer?.
Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer?.
Solutions for Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.Reason (R): Market economies make best use of available resources to economic growth.a)Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).b)Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).c)Assertion (A) is true but reason (R) is false.d)Assertion (A) is false but reason (R) is true.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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