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Why are free market economies able to attain economic growth?

1. Why are free market economies able to attain economic growth? Consumers can purchase all the goods they need, which causes firms to produce more. Competition encourages innovation, which causes growth. Everyone is acting in their own self-interest, which motivates market growth. Firms keep producing more incentives to encourage households to purchase more goods. 2. Which of the following is NOT an advantage of a free market economy? economic efficiency economic freedom economic equity economic growth 3. Which of the following is NOT a disadvantage of a centrally planned economy? It usually cannot meet consumers' needs and wants. It tries to meet explicitly stated goals. It does not reward innovation. It sacrifices individual freedoms. 4. The United States economy is a mixed economy based on the principles of the traditional economy, but allowing some government intervention. based on the principles of the centrally planned economy, but limiting government intervention. based on the principles of the free market, allowing no government intervention. based on the principles of the free market, but allowing some government intervention. 5. Government intervention in a modern economy is useful because the needs and wants of modern society are always met by the marketplace. the marketplace has many incentives to create public works such as parks and libraries. governments are more able to meet some needs and wants of modern society in a way that ensures that all members of society can participate. the marketplace proves all of its own laws.

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1. 1 Firms keep producing ... 2 economic freedom 3 It tries to meet explicitly stated goals 4 based on the principles of the centrally planned economy, but limiting government intervention 5 the marketplace proves all of its own laws