Explain How Market Economies Are Generally Better Able to Achieve

question 232

Essay

Explain how market economies are generally better able to achieve technological progress than are centrally planned economies.

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Definitions:

Catastrophes

Extreme and sudden disasters or events causing significant damage or suffering.

Hassles

Hassles are minor irritations or annoyances that individuals encounter in everyday life, which can accumulate and contribute to overall stress.

Eustress

Positive stress that has beneficial effects on health, motivation, performance, and emotional well-being.

Death Rate

The statistical measure of the number of deaths per unit of population, typically expressed per 1,000 or 100,000 people per year.