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
Review the steps in the accounting cycle and answer the following questions: 1. What is the first step? 2. Are any steps optional? 3. Which steps are completed throughout the period? 4. Which steps are completed only at the end of the period? 5.
Answers (1)
DeAngelo went to the store to purchase groceries. By the time he reached the paper products aisle, he was down to his last few dollars but he desperately needed paper towels.
Answers (1)
If a company has five employees with annual salaries of $40,000, $90,000, $40,000, $30,000, and $80,000, respectively, what is the mean annual salary at the company? A. $70,000 B. $56,000 C. $40,000 D. $80,000
Answers (1)
when partners representing multiple jurisdictions or agencies work together to establish the incident objectives, what type of command is being used?
Answers (1)
Diagnostic supplies has expected sales of 84,100 units per year, carrying costs of $5 per unit, and an ordering cost of $10 per order. a. what is the economic ordering quantity?
Answers (1)
New Questions in Business
Acme Foods wants to make its chips saltier, but it doesn't want to spend more than it has to on salt. A sample of consumers are asked to compare its current chip (saltiness = 100) with saltier versions and to say whether the new version is saltier.
Answers (1)
Which of the following comparisons best isolates the impact of a change in activity on performance?
Answers (1)
If an investor anticipates an annual rental income from a leased property to be $400,000 dollars, this expected sum has a direct bearing on what the investor will pay for the property. This is an example of
Answers (1)
In comparison to industry averages, Okra Corp. has a low inventory turnover, a high current ratio, and an average quick ratio. Which of the following would be the most reasonable inference about Okra Corp.? A. Its current liabilities are too low. B.
Answers (2)
The individual with the highest valuation of the good will win in which of the following auctions? A. Sealed Bid Auction B. English Auction C. Dutch Auction D. All of the above.
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?