please ionly right answers

Economics
Tutor: None Selected Time limit: 1 Day

1. What is a market economy?

2. List 3 countries that have a market economy.

3. Describe how prices send signals and provide incentives to buyers and sellers in a competitive market.

4. Analyze the role investments in physical (technology) and human (education) capital plays in increasing productivity and how these influence the market.

5.Explain the law of supply and how is it different than the law of demand?

Mar 24th, 2015

1).Market economy refers to the economy in which decisions regarding investment, production and distribution are based on supply and demand hence the prices of goods and services are determined in a free price system.

2)Canada, Mexico and United States of America

3).Price sends signals and provides incentives to buyers and sellers. When supply and demand changes, the market prices adjust hence affecting incentives. Competition among the sellers leads in lower costs and prices hence there is frequent fluctuation of prices. In market economy, price signals ensure that a customer wants are satisfied.

4). It play a role in increasing the level of human capital and making real investments that create technological  processes to use in the economy. Stable and strong demand will create a stable market for the goods and hence it plays a role in boosting productivity.

5).The law of supply demonstrates the quantities that will be sold at a certain price while law of demand states that if all factors remain equal, the higher the price of a good, the less the demand.

I WILL APPRECIATE SO MUCH IF YOU GIVE ME A GOOD REVIEW. THANK YOU.ALL THE BEST IN YOUR STUDIES.


Mar 24th, 2015

Are you studying on the go? Check out our FREE app and post questions on the fly!
Download on the
App Store
...
Mar 24th, 2015
...
Mar 24th, 2015
Dec 6th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer