46)Free-market economy is an economic system in which individuals, rather than government, make the majority of. decisions regarding economic activities and transactions. Iadividuals are free to make economic decisions concerning their employment, how to use or accumulate capital, what expenditures to make, and whether to use their resources now or to save them for later consumption. The principles underlying free-market economies can be traced to the 18th century British economist Adam Smith. 47)According to Smith, individuals acting in their own economic self-interest will maximize the economic situation of society as a whole, as if guided by an "invisible hand". In a free-market economy the government’s function is limited to providing what are known as "public goods" and performing a regulatory role in certain sifuations.
48) Public goods, which include defense, law and order, and education, have two characteristics;consumpti
46)Free-market economy is an economic system in which individuals, rather than government, make the majority of. decisions regarding economic activities and transactions. Iadividuals are free to make economic decisions concerning their employment, how to use or accumulate capital, what expenditures to make, and whether to use their resources now or to save them for later consumption. The principles underlying free-market economies can be traced to the 18th century British economist Adam Smith. 47)According to Smith, individuals acting in their own economic self-interest will maximize the economic situation of society as a whole, as if guided by an "invisible hand". In a free-market economy the government’s function is limited to providing what are known as "public goods" and performing a regulatory role in certain sifuations.
48) Public goods, which include defense, law and order, and education, have two characteristics;consumpti
我来回答: