What is considered to be the dominant motive needed to function successfully in a capitalist market economy?

Question:

What is considered to be the dominant motive needed to function successfully in a capitalist market economy? How is this justified by classical liberalism?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Economics An Introduction To Traditional And Progressive Views

ISBN: 9780765616685

7th Edition

Authors: Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip A. O'Hara, Barbara A. Wiens-Tuers

See More Books

Question Posted: Nov 07, 2023 07:19 AM

See More Questions

Marx and Engels were two of the most important philosophers in history. Their influence is widely spread around the world to this day. Marx and Engels are deeply critical of the system of life that...
What is considered to be a small sample, and why is this concept a concern to statisticians? To what extent do market researchers concern themselves with small samples? Why?
The concept of the accounting entity often is considered to be the most fundamental of accounting concepts, one that pervades all of accounting. Required 1. a. What is an accounting entity? Explain....
Question 4 Tic-tac-toe (also known as noughts and crosses) is a game for two players, X and O, who take turns marking the spaces in a 3x3 grid. The player who succeeds in placing three of their marks...
What are zero coupon bonds, and how are they priced?
A uniform 2.0-kg cylinder of radius 0.15 m is suspended by two strings wrapped around it (Fig. 8.50). As the cylinder descends, the strings unwind from it. What is the acceleration of the center of...
How might you use semantic priming to enhance the likelihood that a person will think of something you would like the person to think of (e.g., your birthday, a restaurant to visit, or a movie to...
Using the Public MACRO BITCOIN scorecard spreadsheet (linked in its associated masterclass lesson - Long Term 32), create a COPY of it and perform a complete analysis for the date 22/2/2022....
Problem 1 2 - 1 ( Static ) Securities held - to - maturity; bond investment; effective interest; financial statement effects LO 1 2 - 1 , 1 2 - 2 ] Fuzzy Monkey Technologies, Incorporated purchased...
Compare and contrast human justification by works and human justification by faith. Why does individual interpretation of Gods will appeal to the new middle class of capitalists?
What is classical liberalism? Why did it end up prevailing over the older paternalistic view of the world?
Many consider intentionally creating budget slack to be unethical. Do you agree or disagree? Justify your answer. Are there any circumstances under which creating some budget slack might be...
What is the difference between corporate and clinical? How do they differ? Can they both have the same outcome? Include a reference list that supports your stance of no fewer than 3 scholarly...
How do we attain the desire for the freedom to purse one's passions, the desire for economic security and well-being, the desire for hope and progress in one's life utilizing higher-order thinking
Instructions FNCE 625 - Investment Analysis and Management Group Project - Case Study Guideline Introduction: In this group assignment, each team will collaboratively make a comprehensive report and...
21) The EOQ model is solved using calculus but the key intuition is that relevant total costs are minimized when relevant ordering costs equal relevant carrying costs. 22) Safety stock is used as a...
In the long-term, what do you recommend as overall policy in order to reduce or avoid the kinds of PPE shortages that occurred during the different waves of the COVID virus? In simple terms, how...
Suppose that x, y Cn, b Cm and A is an m n matrix. If x, y and x + y are each a solution to the linear system LS(A, b), what interesting can you say about b? Form an implication with the existence...
Presented below are income statements prepared on a LIFO and FIFO basis for Kenseth Company, which started operations on January 1, 2024. The company presently uses the LIFO method of pricing its...
The Croc Co. is considering a new milling machine from among three alternatives: All machines have a life of 10 years, and MARR = 15%. Using incremental rate of return analysis, which alternative, if...
Wayward Airfreight, Inc. has asked you to recommend a new automatic parcel sorter. You have obtained the following bids: Using an MARR of 15% and a rate of return analysis, which alternative, if any,...
A firm must decide which of three alternatives to adopt to expand its capacity. The firm wishes a minimum annual profit of 20% of the initial cost of each separable increment of investment.. Any...
What is the expected pay-off in a Colonel Blotto game where Blotto has troops in the formation of 3100 and the enemy has troops in the formation of 2100?
12. At the beginning of the period, the Assembly Department budgeted direct labor of $123,500 and property tax of $14,700 for 6,500 hours of production. The department actually completed 7,200 hours...
Not every trust requires a beneficiary. a O True O False

What is considered to be the dominant motive needed to function successfully in a capitalist market economy?

Question:

Step by Step Answer:

In a capitalist market economy the dominant motive that is often considered essential for success is selfinterest or economic selfmotivation This conc...View the full answer

Economics An Introduction To Traditional And Progressive Views

Students also viewed these Business questions