Economics Questions and Answers

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In Question 2 in the link below, which statement best sums up the pluses and minuses of a market economy?

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Of the choices given in this question, the best answer is A.

The market economy is the type of economy that is found in Western countries such as the US, Canada, and England.  In this system, there is a great deal of economic freedom for everyone.  That includes the freedom to choose the jobs that we want and that we are qualified for, as stated in A.  At the same time, however, market economies make great inequalities in wealth possible.  People who can get jobs that are well-compensated make large amounts of money while people with fewer skills can remain poor.  We see this in every country with a market economy.

Therefore, A is the best answer.

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