What role does freedom play in capitalism? How important is it to the operation of a competitive market economy?
Please provide the best answer for the statement.
In capitalism, two essential freedoms are the freedom of enterprise and freedom of choice. Business must be free to get economic resources, organize them to produce products, and sell them in the market. Businesses must also be free to enter or leave an industry. Freedom of choice gives business owners, resource owners, and consumers’ freedom to act to advance their own self-interest. Business owners are free to buy and sell property. Labor resources (workers) can enter or exit any line of work for which they are qualified. Consumers are free to purchase goods and services as they choose based on their budget constraints. Without these freedoms it would be impossible for a market economy to exist.
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Which of the following is a reserve target specified in the FOMC directive?
A) Bank reserves B) Commercial bank capital requirements C) Demand deposits D) The prime rate
The Japanese economy began its development after the:
a. establishment of a monarchy b. the Tokogawa Dynasty c. The Second World War d. The Tan dynasty e. the Meiji Restoration