Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The seven institutions around which a capitalist economy is organized is: -- perhaps our most cherished and revered social institution. -- a natural human instinct

The seven institutions around which a capitalist economy is organized is:

  1. -- perhaps our most cherished and revered social institution.
  2. -- a natural human instinct that works with, rather than against capitalism.
  3. -- the institution that motivates us to be ever more productive because we are producing for ourselves.
  4. -- the strategy that we use to maximize our productivity.
  5. -- a mutually beneficial activity that is necessary if we are going to concentrate our productive efforts on one (or a few) things.
  6. -- a "tool" that society uses to avoid the incumbrances of barter.
  7. -- the quantification of values.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Great Convergence Information Technology And The New Globalization

Authors: Richard Baldwin

1st Edition

067466048X, 9780674660489

More Books

Students also viewed these Economics questions

Question

What is the major competition for your organization?

Answered: 1 week ago

Question

How accurate is this existing information?

Answered: 1 week ago