Which of the following is NOT an advantage of a free- market economy?
A) The profit incentive encourages efficiency in production.
B) The economy can respond quickly to changes in demand.
C) Competition can keep prices down.
D) There may be little competition between firms.
Correct Answer:
Verified
Q11: If the supply curve shifts to the
Q12: An increase in supply is represented by:
A)
Q13: Suppose another cyclone once again destroys the
Q14: In which of the following situations will
Q15: Australian farmers have decided that the merino
Q17: During the economic downturn in 2008, the
Q18: Which of the following would cause a
Q19: The demand curve for oranges may shift
Q20: Which of the following is an advantage
Q21: A firm produces 2 products: goods A
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents