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20 September, 10:08

Serves the needs of citizens is a characteristic of which market structure?

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  1. 20 September, 10:30
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    The correct answer is socialism, which focuses on developing markets that benefit people in a society above all else. This includes having government run industries like healthcare, air or bus transportation and prisons, etc. Socialism says that if it benefits people and society the most, areas of the economy can be more capitalistic or more communistic, so long as the result is the best for the people. For instance, you might want to keep a stock market capitalistic because it generates large amounts of money for the economy when people have economic freedom to invest, but you might not want businesses to profit off of things like fighting fires, because things could easily become corrupt and hurt citizens in society, so you have the government be the only one who can have an organization that fights fires. The Romans had a privately run fire fighting service, and often those services would offer to buy houses of those who's homes were about to be engulfed in flames for dirt cheap and if the owner didn't sell, they'd let the home or business burn and leave the owner with nothing if they didn't sell it for much less than it was worth, this is why it is better to have the government do the fire fighting.
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