Ask Question
BusinessBusiness
7 September, 01:44

In a market economy, this is the driving force that encourages individuals and organizations to improve their material well-being. hint: PR

+4
Answers (1)
  1. 7 September, 04:47
    0
    Profit motive

    Explanation:

    In a market economy system, transaction decisions are influenced by the forces of demand and supply. In this system, demand, supply, and commodity prices guide firms and individuals in determining the allocation of resources. In a market economy, private firms and individuals own and control the majority of the factors of production.

    Industries and businesses are owned by the private sector in a market economy. Since demand and supply influence the allocation of resources, entrepreneurs establish businesses based on projected profitability. In other words, the profit motive is the main drive for starting a business.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In a market economy, this is the driving force that encourages individuals and organizations to improve their material well-being. hint: PR ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of these services is not provided by a financial institution such as a bank or credit union? A Informing customers of the amount of money in their accounts B Informing customers of how the money in their accounts must be spent C Providing cash
Answers (1)
Your company manufactures small kitchen appliances. It is introducing a new product line of appliances in designer colors with distinctive features for kitchens in small spaces.
Answers (1)
Each of the following factors affects the weighted average cost of capital (WACC) equation. Which of the following factors are outside a firm's control? Check all that apply.
Answers (1)
What is an incentive for a person to contribute to an IDA? It earns the highest interest rates available at a bank. It is good for the government. An organization matches the amount deposited. The interest on the account is not taxed.
Answers (1)
If the payment is not made on the credit card by the end of the billing cycle, which of the following will occur? A. A penalty APR will be assessed B. A minimum monthly charge will occur C. Interest will be charged D. A late fee will be charged.
Answers (2)
New Questions in Business
When a celebrity receives extra compensation for winning an award, this compensation is referred to as a
Answers (2)
Inlcuded in Perry's capital balance is a $20,000 partnership loan owed to Perry. Perry, Quincy, and Renquist shared profits and losses in a ratio of 2:4:4. Liquidation expenses were expected to be $15,000. All partners were solvent.
Answers (1)
Consider a perfectly competitive market in which all firms have the same costs. Choose the statement that is incorrect. A. The market supply curve is upward sloping at prices above the firm's shutdown price. B.
Answers (1)
1. Identify a company or organization from which you have received high-quality products and describe the characteristics which make it high quality. 2.
Answers (1)
Consider the following list of accounts: Cash Retained Earnings Service Revenue Utilities Expense Salaries Expense Accounts Receivable Accounts Payable Common Stock Equipment Dividends How many of these accounts have a normal debit balance?
Answers (1)
Home » Business » In a market economy, this is the driving force that encourages individuals and organizations to improve their material well-being. hint: PR
Sign Up Forgot Password?