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Jessica Cooper
on Oct 09, 2024

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Market economies use capital goods because they improve productive efficiency.

Capital Goods

Long-lasting goods acquired and used by businesses to produce goods and services and contribute to their productive capacity.

Productive Efficiency

A situation where it's impossible to produce more of one good without producing less of another, utilizing all resources efficiently.

  • Gain an insight into how private property rights influence resource distribution and enhance productive efficiency.
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Payton WoltzOct 09, 2024
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