Asked by Alexander Orton on Jul 12, 2024
Verified
An advantage of capitalism is that
A) It allows the market to self-regulate and clear itself
B) It allows a person to follow his or her own self interest
C) It allows voluntary transactions,which create wealth
D) All of the above
Capitalism
An economic system characterized by private ownership of the means of production and the creation of goods or services for profit.
Self-Interest
The motivation of individuals to pursue their own advantages and well-being.
- Comprehend the basic distinctions between capitalism and socialism.
Verified Answer
ND
Nicole DiodatiJul 14, 2024
Final Answer :
D
Explanation :
All of the above options are advantages of capitalism. Capitalism allows the market to self-regulate and clear itself, which means that prices are determined by supply and demand without any external interference. It also allows individuals to pursue their own self-interest, which ultimately creates wealth and improves the overall standard of living. Additionally, capitalism allows for voluntary transactions between parties, which promotes freedom and individual choice.
Learning Objectives
- Comprehend the basic distinctions between capitalism and socialism.