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Which of the following is a disadvantage of a market economy?
 
a) foostering innovation
b) variety
c) indiviual choice
d) inequitable distribution of wealth

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Joshua Stredder
Joshua StredderLv10
9 Oct 2020
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Related questions

Which of the following is a disadvantage of a market economy?
a. Business efficiency
b. Increased productivity
c. Innovation 
d. Existence of inequality in wealth and mobility

Economists tend to see ticket scalping as

A) a way for a few to profit without producing anything of value.

B) an inequitable interference in the orderly process of ticket distribution.

C) a way of increasing the efficiency of ticket distribution.

D) an unproductive activity which should be made illegal everywhere.

 

 

Comment on each of the following statements:

a. "Unions tie the hands of management and inhibit efficient decision making."

b. "Unions contribute to economic efficiency in that union wage pressure hastens the weeding out of the high-cost, least efficient producers in each industry."

c. "Although unions may reduce wage inequality, to the extent that they reduce wage differentials based on individual merit and effort, the outcome may be rightly perceived as both inequitable and inefficient."

d. "Unions impair the efficiency of our economy indirectly by diminishing profits and thereby reducing investment and economic expansion."

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