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Producers are driven by the profit motive to work against competition
The free - market system requires government regulation to protect consumers. This system is run by monopolies who would abuse and manipulated consumers if not regulated by the government.
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Which of these are elements of the economic system of government?
regulation, manufacturing, and distribution of goods
What are Two core values in out government system?
Democracy and capitalism. Democracy is our political system based off the idea that government should be for the people, by the people. Capitalism is the economic system that allows citizens to control the market without government interference , thus giving in the term "free-market".
Which early architect of government is being described below?
1. Regulation of currency, 2. Provides safety through the armed forces, 3. Maintenance of the mail system, 4. Regulation of commerce, 5. Promotes freedom and equality
Match the following actions with the system in which the government performs them.?
Free-market system - Protecting property rights. Socialism - Providing equality of wealth. Planned economy - Making production decisions.
A system of government by groups or officals?
A system of government by groups or officals?
A model economic system in which all economic desicions are left to the market?
A popular model is the free market, where the market has no government intervention or regulation.
What are capitalism and communism and socialism?
Capitalism is a free-market system with little or no government regulation. Communism is a system where the market and means of production are owned by the government. Socialism allows some regulation of the economy and is also the transition from capitalism to all out communism.
What does mixed capitalism means?
A market system where there is a mix between free market (without regulation and laws, prices are determined by the market forces) and controlled market( with government restrictions).
What is the economic system in which private business operates competetively for profit with minimal government regulation?
"Free market" economy
What is the current economic system for japan and the US?
The US and Japan have what I would describe as a mixed economy; this is a free market, with substantial government regulation.
Why do the economic systems of other countries have in common with the economic system of the US?
Most countries have similar economic systems, which are a mixture of a free market and government regulation.
What do the economic systems of others countries have in common with the economic system of the United states?
Most countries have similar economic systems, which are a mixture of a free market and government regulation.
What is the economic system in which private business operate competitively for profit with minimal government regulation?
An economic system in which businesses operate with little interference from the government is known as a free market economy. The United States is a good example of this type of economy.
System combining different degrees of government regulation?
mixed economies
Which of these are elements of the economic system of government?
regulation, manufacturing, and distribution of goods
What effect do the consumer-protection regulation have on the circular flow of the free market system?
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Which of theses are elements of the economic system of government?
regulation, manufacturing, and distribution of goods
