Select the best answer for the question:

1. The profit motive is important to a market economy because it
A. allows workers to get paid.
B. encourages consumers to buy more products.
C. encourages people to open businesses and invent new products.
D. allows the government to collect extra taxes.

In a market economy, the profit motive is essential because it encourages people to open businesses and invent new products. Entrepreneurs are motivated to earn profits by serving customers efficiently and effectively. Competition among entrepreneurs regulates and motivates them to provide goods and services at desired quality and price levels.

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Select the best answer for the question:1. The profit motive is important to a market economy because itA. allows workers to get paid.B. encourages consumers to buy more products.C. encourages people to open businesses and invent new products.D. allows the government to collect extra taxes.

Answer :

Final answer:

Explanation:

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Other Questions

Select the best answer for the question:

1. The profit motive is important to a market economy because it
A. allows workers to get paid.
B. encourages consumers to buy more products.
C. encourages people to open businesses and invent new products.
D. allows the government to collect extra taxes.