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8 October, 01:46

How do Free Market economics encourage

economic growth, especially when compared

to command

Economic

+4
Answers (1)
  1. 8 October, 02:05
    0
    By offering incentives for the people

    Explanation:

    In a command economy, all the resources that exist in a country are owned by the government. Even if you do a better job than other people, you won't reap more rewards than your peers since it all will be taken by the government. This tend to demotivate people to do good in their career.

    In a free market economy, most of the resources that exist in a country is owned by individuals. Meaning that if you're successful in your career, all of the rewards that come from it. This tend to become a positive motivation for people to increase their productivity. In this end, this will contribute to economic growth.
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