Question

Which of the following is considered an advantage of a capitalist economy?

a. the reduced choice for the consumer
b. a wider range of available services and products
c. government regulation of the entire economy
d. no competition between businesses

Answer 1

An advantage of a capitalist economy is a wider range of available services and products.

Step-by-step explanation:

An advantage of a capitalist economy is a wider range of available services and products. In a capitalist economy, private businesses compete with each other to provide goods and services to consumers. This competition encourages innovation, efficiency, and a diverse range of options for consumers to choose from. For example, in a capitalist economy, there are many different brands and types of smartphones available with various features and prices.