In a market economy,which of the following is an incentive for producers to produce efficiently?
A)Government laws and regulations.
B)Profits.
C)The production possibilities curve.
D)The public's welfare.

Question

Quizplus · Accepted Answer

Producers have an incentive to produce efficiently in a market economy because it leads to higher profits. The more efficiently they can produce a product, the more they can sell it for and the greater their profits will be.

In a Market Economy,which of the Following Is an Incentive