One of the virtues of the market process is that it is open to new ideas, innovations, and:

Question

Quizplus · Accepted Answer

The market process allows for experimentation and trial-and-error to occur, which can lead to new ideas and innovations. This is because entrepreneurs are free to try out new products or services, and if they are successful, they can earn profits. The reallocation of property may occur as a result of the market process, but it is not necessarily a virtue in and of itself. Central planning by government is the antithesis of the market process and restricts the ability for new ideas to emerge.

One of the Virtues of the Market Process Is That