What is one disadvantage of our free market society?

Answers

Answer 1

The major disadvantage of the free market is the uneven distribution of wealth.

Further Explanation:

Free market:

The free market refers to the market where government intervention is minimum or zero. The exchange of goods and services is held voluntarily based on the demand and supply of the product. The main characteristic of the free market is that there is no transaction condition. All the transactions are carried out between the buyer and seller without any condition. Laissez-faire capitalism and voluntary socialism are examples of the free market.

Disadvantage of the free market:

The major disadvantage of the free market is the uneven spread of wealth. Without government intervention, only a handful number of buyers may take over the market and creates a cartel and manipulate the price of the product. It would lead to a higher profit for handful sellers and very little margin for other sellers. It will result in the uneven spread of wealth where a very few sellers would earn most of the profit.

Thus, the major disadvantage of the free market is the uneven distribution of wealth.

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Answer Details:

Grade: Senior school

Chapter: Free-Market

Subject: Economics

Keywords: one, disadvantage, our, free, market, society, government, intervention, characteristic, voluntarily

Related Questions

Can a citizen of a state sue a different state

Answers

yes. its called an out of state warrant

A(n) ________ is information that needs to be given to a macro to produce output.

Answers

An argument is information that needs to be given to a macro to produce output.
Argument is a list of data and causes that could be used to determine the condition of the market and help the management make a decision on how to approach the business strategy

An apparel designing company is planning to enter the women's trousers market. they are in the process of developing a product that will appeal most to customers. the part-worths for each of the attribute levels obtained from an initial customer survey and the subsequent regression analysis can be used to determine the

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The choices are unfortunately missing. Therefore, this question is incomplete.

Tele-com, inc., the nation's largest cable tv company, tested the effect of a price reduction for the disney channel. it lowered prices from $10.75 to $7.95 and found that the number of customers more than doubled. this means the

Answers

This means that there were customers that were wanting the Disney channel, but did not get it because it was too expensive. Once the price went down these customers bought the service. The cable company test showed that they should keep their prices for the Disney channel low to generate more revenue. Even if they only had one customer to begin with they would only be making $10.75, and when they lowed their prices they would be making at least $15.90.

The unequal distribution of wealth, income, power, and poverty is called

Answers

The answer to this question is social inequality. Social inequality is the unequal amount of opportunity and reward that is given to a person depending on their race, gender, age, or class. Social inequality can be categorized into 5 types such as political inequality, income inequality, life inequality, inequality of membership, and inequality of treatment.

The california “standard form” policy of title insurance on real property insures against loss occasioned by:

Answers

The California “standard form” policy of title insurance on real property insures against loss occasioned by a forgery in the chain of recorded title.

To add, standard form policy is an insurance policy form that is designed to be used by many different insurers and has exactly the same provisions, regardless of the insurer issuing the policy.

Final answer:

Property insurance covers risks associated with owning property, including losses due to damage or deception, and underwriters calculate risk exposure to recommend coverage levels.

Explanation:

Property insurance covers risks associated with owning property like fire, theft, and storms. Title insurance on real property in California provides protection against various losses, and this includes losses due to property damage or deception. The underwriters use information to calculate risk exposure and recommend coverage levels based on factors that can reduce risk, such as building materials and safety measures.

Cromwell enterprises is acquiring athens, inc. for $899,000. athens has agreed to accept annual payments of $210,000 at an interest rate of 8.5 percent. how many years will it take cromwell enterprises to pay for this purchase

Answers

5.55 years

I/Y: 8.5
PV: 899000
PMT: -210000
FV:0

Sarah has a credit card balance of $2000. the credit card company charges 11% per annum simple interest. what is the interest charge on sarah's credit card after 1 month?

Answers

The interest charge would be $18.33.
11% of $2000 Is $220. $220 Is your total value of interest each year. Divide this by 12 (months per calender year) to get your interest charge for 1 month.

A theoretical model describing a product's sales and profits over the course of its existence is known as the product ________.

Answers

It is known as the product LIFE CYCLE. It is made up of four basic stages, which are: introduction, growth, maturity and declining stage. The life cycle of a product can help a company in decision making concerning that product; it can help the company to improve its efficiency, saves money and better use its resources.

Please list all technical and software knowledge and skills:

Answers

Technical skills and software skills are most important for jobs in the IT (Information Technology) sector. Some of the most wanted technical skills and knowledge are: coding and programming (some programming languages are Java, C, C++, Visual Basic, PHP, Python,...), project management (being able to lead and organize project, to delegate tasks and measuring the success of the project), big data analysis (being good at collecting, organizing and working with data), social media experience (experience and working in various social media platforms).

You would advise a client that's launching a new product line to advertise on the google display network because she can:

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You would advise a client that's launching a new product line to advertise on the google display network because she can: reach people who are interested in similar products. By doing this, you will give a higher chance to your client in increasing their customers' basis which will lead to the increase in sales and profits

If you are required to show proof of financial responsibility for the future, for how many years must the proof be kept?

Answers

A person needs to keep proof of financial responsibility for two years. This will protect the person if they are required by a court. Many people must show this if they have had a speeding ticket, DUI, or any other driver related incident. The court will need to have a copy for their records. Always keep your paperwork in a safe place and somewhere you can remember. You can always make a copy and keep it in the cars glove box.

Final answer:

The proof of financial responsibility might need to be kept for a minimum of three to five years, depending on specific circumstances and jurisdiction. This demonstrates potential capacity to cover damages, or financial stability to creditors.

Explanation:

The requirements to demonstrate financial responsibility can vary largely based on the context. However, in certain cases, such as auto insurance, one might need to maintain and show proof of financial responsibility usually for a minimum of three years. Some states may require five years or more. This is usually to verify that you have the resources to cover damages if you're involved in an accident. It can also demonstrate to potential creditors, landlords, or others requiring such proof, your financial stability over time. Remember this can change based on the specifics of the situation.

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Mr. hawkins wants abel to learn to purchase a newspaper from a newspaper vending machine. over two weeks, abel purchases newspapers from four different newspaper machines. this is an example of what generalization technique?

Answers

Final answer:

Mr. Hawkins is using stimulus generalization with Abel, a behavioral psychology technique where Abel learns to generalize a behavior (purchasing newspapers) from one situation to similar situations (different vending machines).

Explanation:

The example provided, wherein Mr. Hawkins wants Abel to learn to purchase a newspaper from different newspaper vending machines, is an illustration of the generalization technique often seen in behavior psychology and learning. Specifically, Abel is engaging in stimulus generalization, a process where a behavior is learned in the presence of a specific stimulus and then transferred to, or generalized to, other similar stimuli. By purchasing newspapers from various machines, Abel is demonstrating that he can apply the skills he has learned to similar but not identical situations.

This form of training is critical because it increases the efficiency of learning experiences. It prepares individuals for real-world situations where adaptability and the ability to engage with a range of similar stimuli are necessary. While the concept of generalization is a broad one, this example falls under the category of 'reasoning from specific instances to generalities,' showing that behavior learned in one context can expand to others.

_____ include(s) stocks of completed goods, work in process, and raw materials

Answers

Inventory includes stocks of completed goods, work in process, and raw materials.

Inventory is the products and materials that a business holds for definitive objectives to have a reason for resale.

The idea of inventory has been reached out from assembling frameworks to benefit organizations and tasks, by summing up the definition to be "all work inside the procedure of creation all work that is or has happened preceding the fulfillment of generation." with regards to an assembling generation framework, stock alludes to all work that has happened - crude materials, in part completed items, completed items before deal and takeoff from the assembling framework. With regards to administrations, stock alludes to all work done a preceding deal, including halfway process data.

Definition of unemployment insurance fund

Answers

Salutations!
Definition of unemployment insurance fund.

Unemployment insurance fund is a short term holiday, or consolation where workers do not work due to personal issues, such as: illness, family cases etc.
Hope I helped :D

The way the bank determines the balance on which to calculate your interest is known as _____.

A. minimum finance charge
B. method of computing balance
C. minimum monthly payment
D. annual percentage rate
PLEASEEE HELPPP!!!!

Answers

APEX: method of computing balance

Prejudice would be an example of what factor affecting wages?
A. Education
B. Supply
C. Social attitudes
D. Government laws

Answers

The answer would be A, Education

I will say it's probably A

Is rand corporation a liberal or conservative company?

Answers

The RAND corporation admitt that they see themselves as a centrist rather than liberal or conservative.
But, Since The RAND corporation is a group that created to make analysis for United States Armed Forces, the RAND corporation tend to favor conservative policies.

The department of transportation appropriations act of 2000 standardized the maximum legal limit for alcohol intoxication while driving at __________ bac.

Answers

The Department of Transportation (DOT) Appropriations Act of 2000 standardized the maximum legal limit for alcohol intoxication while driving at 0.08% BAC or Blood Alcohol Content. The Appropriations Act mandated to temporarily withhold a small percent of the funding for construction highways and roads for all of the states that did not meet or adopt the standard of 0.08% BAC. And that any state that do not comply with this until October of the year 2007 would lost all of the funds withheld. Within five years after the Act was enacted, all of the states adopted the limit 0.08% BAC for the drivers.

Final answer:

The Department of Transportation Appropriations Act of 2000 standardized the maximum legal limit for alcohol intoxication while driving at 0.08% BAC.

Explanation:

The Department of Transportation Appropriations Act of 2000 standardized the maximum legal limit for alcohol intoxication while driving at 0.08% BAC. BAC stands for blood alcohol concentration, and it measures the amount of alcohol in a person's bloodstream. This limit means that if a person's BAC is above 0.08%, they are considered legally intoxicated and should not be driving.

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According to the open systems view of organizations, _____ is (are) an input for organizations.
a. incentive plans
b. products
c. financial resources
d. employee motivation
e. employee behavior

Answers

The answer is letter d, financial resources. It is a period covering all financial funds of the organization. From an economic perspective financial resources are the part of the organization’s assets or property). Sometimes these are referred just as finance, often with some attributes (like Business finance, Personal finance, Public finance). Finance is one type of source, correspondingly, that inputs into the production process. Also, according to open systems the inputs are external factors such as raw materials, human resources, information, financial resources, and equipment.

Final answer:

According to the open systems view of organizations, financial resources is (are) an input for organizations. Incentive systems which motivate employees are essential for enhancing performance and productivity within companies. The correct option is c) financial resources

Explanation:

According to the open systems view of organizations, financial resources are considered an input for organizations. An incentive system within a company is a structured plan designed to motivate and reward employees to enhance performance and productivity. Such incentives may include various forms of variable pay such as piece rates, individual bonuses, merit pay, and sales commissions, which tie employee pay to their performance.

Companies leverage these incentive-based strategies to foster motivation and drive performance, tying rewards not only to individual achievements but also to company-wide outcomes. Thus, well-designed incentive plans are crucial for organizations seeking to motivate employees and achieve strategic objectives.

Triad common stock is selling for $27.80 a share and has a dividend yield of 2.8 percent. what is the dividend amount?

Answers

Dividend yield is a quantifiable amount used by finance people to determine the amount of cash inflow based on investments made. In accounting, the dividend amount can be determined from the dividend yield through this equation:

Dividend yield = Divident amount/Price per share * 100
2.8% = Dividend amount/$27.8 * 100
Dividend amount = $0.7784 per share

At the company picnic there were two teams for tug of war. from their starting positions team a pulls team b forward 3 meters, and are then pulled forward themselves 5 meters. team b then pulls team a forward 2 meters. if the first team is to be pulled forward 10 meters loses, how many more meters must team b pull team a forward to win?

Answers

In a game of tug and war, if the game is fair, no displacement occurs. Therefore, the total displacement made by the two teams is equal to 0. In order to compute the displacement the team B must pull to win over team A, let us get the sum of all the displacements and equal to zero. This is because team A and team B must pull equal distances to determine the minimum. For convention, distances pulled in favor of team B will be positive and that of team A is negative. Thus,

-3+5+2-10+x =0
x = 6

Therefore, team B must pull MORE THAN 6 meters in order to win.

Final answer:

In order for Team B to win, they need to pull Team A forward by a total distance of 10 meters. Since Team B already pulled Team A forward by 10 meters, they don't need to pull them any further.

Explanation:

To determine how many more meters Team B must pull Team A forward to win, we need to calculate the total distance that each team pulls the other forward. From the information given, Team A initially pulls Team B forward by 3 meters. Then, Team A is pulled forward by 5 meters. Finally, Team B pulls Team A forward by 2 meters. So, the total distance that Team B pulls Team A forward is 3 + 5 + 2 = 10 meters. Since Team A loses when it is pulled forward by 10 meters, Team B doesn't need to pull Team A forward any more to win.

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How the south African government provides support to the people by arrive alive?

Answers

South African Government's "Arrive Alive" Road-Safety Campaign is called as 365 Days of Road Safety Programme after 2015 focuses on creating awareness all year round. The campaign emphasized that the reduction in road deaths was urgent and non-negotiable. The Road Accident Fund (RAF) pays out about R15 billion to victims of road accidents every year.

Why do most nations use fiat money today?

Answers

Most nations use fiat money today because it has no value and is only used for the purpose of making the payment.

Correct answer is D. Governments know that fiat money derives its value from gold and silver.

Please Help!! Will make brainiest!!
John took a call from a customer who wanted to purchase 1,000 shares of a company’s stock, which just went public. What is John’s profession?

a. tax accountant
b. insurance sales agent
c. real estate agent
d. financial services sales agent

Answers

I think its
d. financial services sales agent

A financial services agent buys and sells stocks and bonds.

Answer:

d. financial services sales agent

Explanation:

The Financial services sales Agent provide a comprehensive view on various financial issues, so they have the mission of providing an investment advisory service. In that sense, they work with clients to make decisions regarding their assets; To that end, they provide by making objective recommendations designed to help them achieve their objectives following the established financial planning.

These professionals are usually hired within the financial industry, such as places such as banks, stockbrokers, insurers, among others.

In other words, agents selling securities, raw materials and financial services connect buyers and sellers in financial markets. They sell securities to people, advise companies seeking investors, and carry out transactions.

Suppose that real GDP equals potential GDP, but the government believes that the economy is in a below full-employment equilibrium. As a result, the government increases its expenditure on goods and services. In response to the government's fiscal policy

Answers

In response to the government's fiscal policy Aggregate demand will be increased.
When the government increases its expenditure on goods and services, the number of the products that sold in the market will increase. This condition will automatically increase the amount of offer that consumers made to buy it.

When you drive above 5,000 feet, there is substantially less oxygen available and you can become _________ very quickly?

Answers

............ you can become TIRED very quickly. As one ascends towards the sky, the quantity of oxygen available continues to reduce significantly and this have a lot of negative effects on humans. For instance, there will be less oxygen available for breathing and one can become tired quickly. The lack of oxygen can cause shortness of breath, nosebleed, headaches and increased heart rate. Also, the air becomes drier and this makes one to become unusually thirst.

A consumer product for which buyers will not accept a substitute, for which purchasers do not compare alternatives, and that is purchased infrequently and with extra effort on the buyerâs part is a ____ product.

Answers

The answer that completes the blank above is LUXURY. Luxury product is the product that consumers purchase in which they will not accept a substitute. Luxury goods are considered to be superior goods and therefore, their quality is incomparable. This means that the buyers cannot compare it to alternatives. Since luxury goods have high prices, these are not purchased frequently and therefore needs extra effort on the part of the buyer.

Write a fictional scenario (can be based on something you have witnessed in real life) describing an ethical challenge you might encounter in a loan transaction.

Answers

Oliver is the best friend of Tommy. Tommy was in dire need of money so he asked Oliver, manager of Starling Bank, to lend him money. Oliver knew that Tommy has no work and his father had cut him off of his trust fund so it would be impossible for him to pay the amount he will be borrowing. Oliver was hesitant to grant the request of Tommy. This was an ethical challenge on his part since he knew the consequences if he would grant Tommy's request. He needs to decide well and weigh the possible effects of his actions.

A fictional scenario would be a Loan Officer waiving some of the requirements for accessing a loan for their blood relative. This of course is not ethical.

What are Ethics?

Ethics refer to standards that are formed, described, and communicated within organizations on what the acceptable standard of behavior are in relation to other people and the business.

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One main issue in studying global social inequality is: question 19 options: 1) most countries keep their economic situations secret. 2) social inequality is relative and therefore, difficult to compare across cultures. 3) the presence of tourism can make a country look richer than it really is. 4) most people live beyond their means which gives a false sense of wealth to a society.

Answers

The answer to this question is letter B. Social inequality is relative and therefore difficult to compare across cultures.

Social inequality is simply an unequal opportunity for social position in the society or within the group. It also refers to the social group according to age, gender, and class.

Final answer:

One main issue in studying global social inequality is the difficulty of comparing social inequality across cultures due to its relative nature. Economic and social structures vary among countries, making it challenging to measure and compare social inequality on a global scale.

Explanation:

One main issue in studying global social inequality is that social inequality is relative and therefore difficult to compare across cultures. Different countries have different economic and social structures, making it challenging to measure and compare social inequality on a global scale. For example, the criteria used to measure poverty in one country may not be applicable to another country with a different economic system and cultural context.

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