2007-05-27 23:49:15 · 4 answers · asked by oedo101 1 in Social Science ➔ Economics
No links please....
2007-05-28 00:07:39 · update #1
Market Economy => Competition => Effective and rational allocation of nation's Resources => Growth of Productivity => More produced with the same input within the same time period.
2007-05-28 01:31:32 · answer #1 · answered by ArArAt 3 · 0⤊ 0⤋
Key word is "Competition". If companies in a market economy competed against each other, they would put more money into research and development to out do the other company and boost demand for their product. This would improve the quality and features of the goods. Through R & D, new technologies and discoveries will be made on the way. Companies could also compete on price and lower the prices of their products to boost demand. Companies would compete on customer service, and aspire to get goods from a to b on time, thus creating greater employment opportunites in the Logistics area. Basically, there are many ways companies can compete against each other that would improve products and services, and create employment opportunites.
2007-05-28 02:32:22 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Good luck getting somebody to do your homework for you!
2007-05-28 00:59:15 · answer #3 · answered by jamie_guitar 1 · 0⤊ 0⤋
In a paragraph, tell us why you shouldn't study your econ homework and do this yourself?
2007-05-27 23:57:34 · answer #4 · answered by Ralfcoder 7 · 0⤊ 0⤋