Competitive markets contribute significantly to economic growth because:
A) they encourage firms to exploit consumers via high prices.
B) people who want to participate do not face barriers to entry.
C) they employ high levels of government regulations.
D) they prevent foreign firms (with better ideas) from entering markets.
E) they create an incentive for firms to differentiate their products.
Correct Answer:
Verified
Q84: Liberia,a very poor nation in West Africa,is
Q86: All countries have some resources and technology
Q87: In 1950,residents in Liberia were wealthier than
Q117: Steve owns a bike shop.He wants to
Q141: Prior to the nineteenth century,average standards of
Q144: Explain how a technological advance can contribute
Q146: Explain how better-quality education for young people
Q151: Explain how economic growth can help to
Q154: What happened at the end of the
Q160: List,define,and give an example of each of
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