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In Business / High School | 2014-09-09

Which of the following types of economies is most likely to develop new and better products?

A. Market
B. Command
C. Traditional
D. None of the above

Asked by matthewreyes60

Answer (3)

Market because it promotes competition which in return lowers prices and increases quality

Answered by johne72 | 2024-06-10

A market economy is the type most likely to develop new and better products due to its competitive nature and incentive to innovate for survival. ;

Answered by ayushgupta030303 | 2024-06-24

A Market Economy is most likely to develop new and better products due to competition, consumer choice, and a focus on innovation. Unlike command or traditional economies, market economies encourage businesses to improve their offerings to meet consumer demands. This environment fosters creativity and the development of advanced products.
;

Answered by johne72 | 2024-10-02

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