which statement best describes a capitalist economy course hero

by Giovanny Bayer Published 3 years ago Updated 2 years ago 3 min read

What is meant by capitalism?

Question 6 of 19 5.0 Points Capitalism is an economic system that: A. produces more capital goods than consumer goods. B. produces more consumer goods than capital goods. C. gives the government the right to tax individuals and corporations. D. private individuals and corporations the right to own productive resources. Answer Key: D

What is a basic tenet of capitalism?

Feb 27, 2013 · Answer Key: C. Question 6 of 19 5.0 Points Capitalism is an economic system that: A. produces more capital goods than consumer goods. B. produces more consumer goods than capital goods. C. gives the government the right to tax individuals and corporations. Correct D. private individuals and corporations the right to own productive resources.

What is the difference between state welfare capitalism and financial capitalism?

Oct 25, 2020 · Which statement best describes a capitalist economy. price. utility. consumption. preferences. a command system. a market system. communism. socialism. Which statement best describes a capitalist economy? The production of goods and services is determined primarily by markets, but the allocation of goods and services is determined primarily by …

What did classical writers see no economic justification for?

Jul 20, 2015 · Question 5 of 20 4.45 Points Which statement best describes a capitalist economy? A.The production of goods and services is determined primarily by markets, but the allocation of goods and services is determined primarily by government. B.The production of goods and services is determined primarily by government, but the allocation of goods and …

What best describes a capitalist economy?

Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.

What is a capitalist economy quizlet?

Capitalism. An economic system in which property and goods are primarily privately owned; investments are determined by private decisions; and prices, production, and the distribution of goods are determined primarily by competition in an unfettered marketplace. Feudalism.

Which of the following is a characteristic of the market system?

Brief explanations are given for these characteristics of the market system: private property, freedom of enterprise and choice, the role of self-interest, competition, markets and prices, the reliance on technology and capital goods, specialization, use of money, and the active, but limited role of government.

What to produce in a market economy is ultimately determined by the quizlet?

What is produced is ultimately determined by what consumers buy. By consumer sovereignty we meant that: consumers determine what goods and services are produced.

Which statement best describes a command economy?

The Government determines economic choices and makes most decisions statement best describes a command economy.Sep 13, 2019

What is an example of capitalism?

One of the examples of capitalism has been the creation of mega-corporations owned by a set of private individuals and institutions. Minimal government intervention and protection of private property rights have enabled the creation of humongous companies.

Which of the following describes a market economy?

A market economy is an economic system where two forces, known as supply and demand, direct the production of goods and services. Market economies are not controlled by a central authority (like a government) and are instead based on voluntary exchange.Jul 13, 2021

Is capitalism a market economy?

capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets.Apr 7, 2022

What are some reasons for studying economics choose three answers?

Economics helps people learn to manage resources. Economics describes the reasons products are scarce. Economics explains the roles of producers and consumers. Economics shows how people work together to make money.

What to produce in a market economy is ultimately determined in a market economy by the?

Question: How do market economies ultimately determine what goods and services are produced, how the goods and services will be produced, and who will receive the goods and services? A. The government determines what goods and services are produced, how to produce them, and who will receive them.

Which would not be characteristic of a capitalist economy?

A capitalist economy is the one where the ownership of economy's resources is in the hands of the private sector. Thus, collective ownership is not possible in a capitalist economy.

How do market economies ultimately determine what goods and services are produced?

How do market economies ultimately determine what goods and services are produced, how the good and services are produced, and who will receive the goods and services? Consumers determine what goods and services are produced, firms determine how to produce them, markets determine who will receive them.