Ask Question
BusinessBusiness
19 April, 05:52

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

+3
Answers (1)
  1. 19 April, 06:11
    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?
Find 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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If a certain business monopolizes a particular industry, the government will attempt to stop it. this is an example of which economic function of government?
Answers (1)
Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount owed is now past-due.
Answers (1)
4) Which of the following is least likely to be your primary health care provider? a. an allergist b. an internist c. an obstetrician-gynecologist
Answers (1)
What is required of licensees who are selling or buying a property for themselves?
Answers (1)
As a rule, possible harm to subjects may be justified when the potential benefits of the study outweigh the possible harm.
Answers (1)
New Questions in Business
Alyson is an employee at Who'd of Thunk It Games, a company that was just purchased by a competitor. The goals set forth by the new management team are extremely ambitious and are placing seemingly insurmountable goals for the employees.
Answers (1)
Making any misleading representations or incomplete or fraudulent comparison of any insurance policies or insurers for the purpose of inducing, or tending to induce, any person to lapse, forfeit, surrender, terminate, retain, or convert any
Answers (1)
Once risks have been identified, how can they be managed?
Answers (1)
The arnold fertilizer company's stock is selling for $55 in the market and its earnings per share is $5. the company is projected to grow at a rate of 22% over the next year. what is this company's price/earnings to growth (peg ratio?
Answers (1)
Strong company applies overhead based on machine hours. at the beginning of 20x1, the company estimated that manufacturing overhead would be $500,000, and machine hours would total 20,000.
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?