Answered: Quèstion 12 in capitalism individuals…

Quèstion 12 in capitalism individuals and firms do their own self-interest without any government direction or regulation True O False

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter9: Competition And Monopolies

Section: Chapter Questions

Problem 8AA

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Concept explainers

Economic Growth

It means the rise in the manufacturing levels of a country’s products/services over a while. It is calculated in terms of the real income of the people of the country. When the production of products/services begins, the manufacturers will hire employees, which in turn raises the income of the people and it will also raise the buying power, this eventually leads to the circulation of money that directly helps in the increase in the Gross Domestic Product (GDP). Thus, GDP is calculated by economists to calculate the growth in the country.

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Quèstion 12
in capitalism individuals and firms do their own self-interest without any government direction or regulation
True
O False

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