Economy, asked by simran1507, 1 year ago

Analyse the role of profit in a market economic system.

PLZ GIVE THE CORRECT ANSWER.

PLA DON'T SPAM..

Answers

Answered by Udayeswari

20

Answer:

In a capitalist economy, profit plays an important role in creating incentives for business and entrepreneurs. For an incumbent firm, the reward of higher profit will encourage them to try and cut costs and develop new products. ... To increase profits, firms may take action which cause market failure.May 2, 2018

Previous Question

Next Question

Similar questions

Math, 6 months ago

How Many Combinations are Pessible while selecting four letter From the word Smoke jack with lhe Condition that j must appear in it...

Biology, 6 months ago

... please answer it ....

Computer Science, 6 months ago

Explanation: Information technology fosters innovation in business. Innovation results in smarter apps, improved data storage, faster processing, and wider information distribution. ... And innovation increases value, enhances quality, and boosts productivity.

Physics, 1 year ago

Does bulb will glow in lime water, lemon juice, vinegar...

English, 1 year ago

(1×4=4) Some say the world will end in fire Some say in ice From what I’ve tasted of desire I hold with those who favour fire. (a) Some people say that this world: (i) is very strange (ii) is full of all sorts of people (iii)will come to an end one day (iv)will end in fire (b) Others think that this world: (i) will go on for ever (ii) will end in wars and conflicts (iii)will end...

History, 1 year ago

Describe town planning &drainage system of the Harappan cities...

History, 1 year ago

What are the main programs introduced by the central and state government to improve in improve the literacy rate...

Social Sciences, 1 year ago

What do the weekly markets offer that you would not find in any mall...