Question

"Equality, justice, and a respect for rights are characteristics of the U.S. economic system." Do you think this is really a true statement? Why or why not?

"Free markets allocate economic good in the most socially beneficial way and ensure progress." How about that statement? Yes? No? Why?

Answer 1

1) The first one states that Equality , justice and a respect for rights are the characteristics of US economic system

• I would say it was but not now
• Because after the New president Trump came to fact 2 of these figures are lost
• That is the equality in the field of trade is lost
• Trump inequalised the trade tariff for other countries
• Then the justice , It has lost in long way back
• There is no justice in the US economy ..
• All are just a game for the Government
• There is inequality in the labour salary distribution

2) Coming to the second part of the question, Free market allocate economic good in the most socially beneficial way and ensure progress

• I would literally say that free market is a best way to ensure economic progress
• It really impacts on the consumers
• The reduction of tax are a key feature of Free markets
• The no intervention of government removes the barrier of the product allocation
• This is really most beneficial way by means of easiness and lack of limitations
• This increases profit either by the firm

HOPE THIS HELPS

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