1. Economic freedom is basically allowing people to have their own freedom within the economy, Economic equity is basically treating everyone equal no matter what, Economic stability is the absence of constant flucuations, Economis growth is when a country gets rich over a period of time, and Economic security is basically protection.
2. The government has increased dramatically because of the high rate of unemployment and things in that nature.
3. I agree with the visual because people only want the flashy things in life and will do anything to get it, if deregulation happens then the economic security will get weaker because of the things that will be going on.
4. The government supplies good and services in the market economy for the consumers and the producers. Consumers being the buyers and Producers being the creators and sellers of a product.
5. The 6 functions are maintaining competition, providing public goods, stabilizing the economy, maintaining social frame work, correcting for externalties, and redistributing income.
6. If a company wants to be successful all it has to do is increase productivity, it must produce more product for the people that are intrested in buying the product.
7. To become better in production by using some of the money they made to buy more updated technology to make their products better, and they can increase the education of the workers that are in their company.
8. A lot of workers are producing a low output which is making the umemployment rate lower and lower, the production growth is almost equal, with that being said it is not enough workers to get the job done.
William,
ReplyDelete#1 is mostly correct
#2 role of government has increased over time due to the functions you have listed in number 5
#3 Not sure I understand your answer
#4 Government does not provide goods and services, it buys goods and services from the product and factor markets
#5 is correct
#6 Must also produce more efficiently--maximizing output