Here Is an Excerpt Form an Editorial Praising Capitalism in the Economist

question 143

Essay

Here is an excerpt form an editorial praising capitalism in The Economist: "It is competition that delivers choice, holds prices down, encourages invention and service, and (through all these things) delivers economic growth." To what type of competition does the writer refer? Is it the sort of competition that economists study? Explain.

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Definitions:

Team Reflexivity

The process by which a team collectively reflects on and adapts their goals, strategies, and processes to optimize performance.

Team Processes

The methods and dynamics by which team members interact, communicate, and collaborate to achieve their objectives.

Collective Efficacy

The shared belief in a group's capabilities to organize and execute the actions required to achieve certain goals.

Pret A Manger

A fast-food chain based in the U.K. known for its organic coffee and natural foods.