Questions: Which of the following goals do the world's market based economies share? Select all that apply. Growth Free trade Price stability High employment Technology superiority

Which of the following goals do the world's market based economies share? Select all that apply.
Growth
Free trade
Price stability
High employment
Technology superiority
Transcript text: Which of the following goals do the world's market based economies share? Select all that apply. Growth Free trade Price stability High employment Technology superiority
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Solution

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Answer

The answers are Growth, Free trade, Price stability, and High employment.

Explanation
Growth:

Market-based economies aim for economic growth as it leads to higher standards of living, increased employment opportunities, and improved public services. Growth is a fundamental goal as it reflects the overall health and progress of an economy.

Free trade:

Free trade is a common goal among market-based economies as it allows for the efficient allocation of resources, access to a wider variety of goods and services, and increased competition, which can lead to innovation and lower prices for consumers.

Price stability:

Price stability is crucial for market-based economies because it ensures that inflation remains low and predictable, which helps maintain consumer and business confidence. Stable prices facilitate long-term planning and investment, contributing to economic stability and growth.

High employment:

High employment is a shared goal as it indicates a healthy economy where most individuals who want to work can find jobs. High employment levels contribute to economic growth, reduce poverty, and improve the overall quality of life for citizens.

Technology superiority:

While technology superiority can be a goal for some economies, it is not universally shared among all market-based economies. Different countries may prioritize technology development to varying degrees based on their specific economic strategies and resources.

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