7. which are advantages of a market economy? discourages innovation high consumer satisfaction large variety…

7. which are advantages of a market economy? discourages innovation high consumer satisfaction large variety of goods and services large bureaucracy

7. which are advantages of a market economy? discourages innovation high consumer satisfaction large variety of goods and services large bureaucracy

Answer

Brief Explanations:

In a market - economy, competition drives firms to innovate, offer a wide range of goods and services to meet consumer needs, leading to higher consumer satisfaction. A large bureaucracy is not an advantage. Discouraging innovation is incorrect as competition encourages it.

Answer:

B. High consumer satisfaction C. Large variety of goods and services