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The free market economy is no doubt the primary stimulus that has led to the United States' dominance in the world economic community. By naturally rewarding those producers that excel, excellence is actively encouraged and those that inefficiently produce goods or services are eliminated; thus, the economy becomes a self-sustaining and self-maintaining machine, consistently and constantly achieving the best possible result.

The free market economy is entirely based on the principle of supply and demand. Under this concept, consumers decide for themselves which companies will stay in business, voting with their dollars by spending on those businesses they consider most worthy. By doing so, those companies that are best liked, or most in demand, are granted the privilege of supplying the goods and services that consumers pay for. In that sense, efficiency is achieved. For those companies that best perform. to the expectations of consumers are left prosperous in the market, while their less efficient counterparts simply die out of the market, starved of the dollars of consumers who simply prefer not to buy their products.

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更多“The free market economy …”相关的问题
第1题
“对一个像菲律宾这样的小国而言,实行自由贸易可以带来许多好处。实行自由贸易可以使得消费者和生产者能够以产品的实际成本而非政府决定的价格作为决策的基础;可以使生产者和消费者得以从狭窄的国内市场的束缚中解脱出来;可以为企业家开辟一块全新的天地;最重要的是,有助于净化国内政坛。”请分别讨论以上陈述中赞成自由贸易的每个论据。
“For a small country like the Philippines,a move to free trade would have huge advantages.It would let consumers and producers make their choices based on the real costs of goods,not artificial prices determined by government policy;it would allow escape from the confines of a narrow domestic market;it would open new horizons for entrepreneurship;and,most important,it would help to clean up domestic politics.”Separate out and identify the arguments for free trade in this statement.
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第2题
空调不制冷可能原因有()

A、系统渗漏,制冷剂缺失

B、空调控制面板的ECON未开启

C、压缩机故障

D、冷凝器堵塞

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第3题
In the second paragraph, the author suggests that "economists" would______.A.plan the econ
In the second paragraph, the author suggests that "economists" would______.
A.plan the economy through yearly forecasts
B.fail to consider the influence of technological innovation
C.value the economic contribution of farm animals
D.consult the national commission on the economy
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第4题
以下哪些情况可以减少油耗()

A、柔和起步

B、柔和驾驶,减少刹车

C、减少不必要的重物

D、开启econ节能模式

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第5题
为什么别的车空调上有AC/ECON开关,而我的车没有(手动或半自动空调)()

A、(1)AC和ECON都是空调开关,两者的功能是一致的,但开关方式恰好相反

B、(2)AC是空调的英文缩写,按键点亮时,空调制冷在工作

C、(3)ECON表示经济模式,按键点亮后,空调制冷停止工作

D、(4)不同车型的不同设计,功能完全一致,所以不能在一台车上同时出现

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第6题
In a sense, the new protectionism is not protectionism at all, at least not in the traditional sense of the term. The old protectionism referred only to trade restricting and trade expanding devices, such as the tariff or export subsidy. The new protectionism is much broader than this: it includes interventions into foreign trade but is not limited to them. The new protectionism, in fact, refers to how the whole of government intervention into the private economy affects international trade. The emphasis on trade is still there, thus came the term "protection". But what is new is the realization that virtually all government activities can affect international economic relations. The emergence of the new protectionism in the Western world reflects the victory of the interventionist, or welfare economy over the market economy. Jab Tumiler writes, "The old protectionism…coexisted, without any apparent intellectual difficulty with the acceptance of the market as a national as well as an international economic distribution mechanism—indeed, protectionists as well as (if not more than) free traders stood for laissez faire (放任政策). Now, as in the 1930s, protectionism is an expression of a profound skepticism as to the ability of the market to distribute resources and incomes to societies' satisfaction."
It is precisely this profound skepticism of the market economy that is responsible for the protectionism. In a market economy, economic change of various color simplies redistribution of resources and incomes. The same opinion in many communities apparently is that such redistributions often are not proper. Therefore, the government intervenes to bring about a more desired result.
The victory of the welfare state is almost complete in northern Europe. In Sweden, Norway, Finland, Denmark, and the Netherlands, government intervention in almost all aspects of economic and social life is considered normal. In Great Britain this is only somewhat less true. Government traditionally has played a very active role in economic life in France and continued to do so. Only West Germany dares to go against the tide towards excessive interventionism in Western Europe. It also happens to be the most successful Western European economy.
The welfare state has made significant progress in the United States as well as in Western Europe. Social security, unemployment insurance, minimum wage laws, and rent control are by now traditional welfare state elements on the America scene.
This passage is primarily concerned with discussing______.
A.the definition of the new protectionism
B.the difference between new and old protectionism
C.the emergence of the new protectionism in the Western world
D.the significance of the welfare state

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第7题
Questions下列各 are based on the following passage. A newstudy shows a large gender gap on
Questions下列各 are based on the following passage.
A newstudy shows a large gender gap on economic policy among the nations professional economists,a divide similar to the gender divide found in the general public.
"Asa group, we are pro-market," says Ann Marl May, co-author of the study anda University of Nebraska economist. "But women are more likely to acceptgovernment regulation and involvement in economic activity than our malecolleagues. "
"Itsvery puzzling," says free market economist Veronique de Rugy of the Mercatus Center at George Mason University. "Not a .day goes by that Idont ask myself why there are so few women economists on the free market side."
A nativeof France, de Rugy supported government intervention (干预) early in her life butchanged her mind after studying economics. "We want many of the samethings as liberals--less poverty, more health care--but have radicallydifferent ideas on how to achieve it. "
IAberaleconomist Dean Baker, co-founder of the Center for Economic Policy andResearch, says male economists have been on the inside of the profession,confirming each others antiregulation views. Women, as outsiders, "aremore likely to think independently or at least see people outside of theeconomics profession as forming their peer group," he says.
Thegender balance in economics is changing. One-third of economics doctorates (博士学位) now go to women."More diversity is needed at the table when pubflc policy isdiscussed," May says.
Economistsdo agree on some things. Female economists agree with men that Europe has toomuch regulation and that Wal-mart is good for society. Male economists agreewith their, female colleagues that military spending is too high.
Thegenders are most divorced from each other on the question of equality forwomen. Male economists overwhelmingly think the wage gap between men and womenis largely the result of indi~fluals skills, experience and voluntary choices.Female economists overwhelmingly disagree by a margin of 4-to-1.
Thebiggest disagreement: 76% of women say faculty opportunities in economics favormen. Male economists point the opposite way: 80% say women are favored or theprocess is neutral.
What is the finding of the new study?
A.The gender divide is a big concern of the general public.
B.Men and women understand economics quite differently.
C.The gap between male and female economists needs to be closed.
D.Male and female economists disagree widely on economic policy,


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第8题
AggroChem Co is undertaking a due diligence investigation of LeverChem Co and is reviewing the potential bid price for an acquisition. You have been appointed as a consultant to advise the company’s management on the fi nancial aspects of the bid.
AggroChem is a fully listed company fi nanced wholly by equity. LeverChem is listed on an alternative investment market. Both companies have been trading for over 10 years and have shown strong levels of profi tability recently. However, both companies’ shares are thinly traded. It is thought that the current market value of LeverChem’s shares atAggroChem Co is undertaking a due diligence invest higher than the book value is accurate, but it is felt that AggroChem shares are not quoted accurately by the market.
The following information is taken from the fi nancial statements of both companies at the start of the current year:
AggroChem Co is undertaking a due diligence invest
It can be assumed that the retained earnings for both companies are equal to the net reinvestment in assets.
The assets of both companies are stated at fair value. Discussions with the AtReast Bank have led to an agreement that the fl oating rate loan to LeverChem can be transferred to the combined business on the same terms. The current yield rate is 5% and the current equity risk premium is 6%. It can be assumed that the risk free rate of return is equivalent to the yield rate. AggroChem’s beta has been estimated to be 1·26.
AggroChem Co wants to use the Black-Scholes option pricing (BSOP) model to assess the value of the combined business and the maximum premium payable to LeverChem’s shareholders. AggroChem has conducted a review of the volatility of the NOPAT values of both companies since both were formed and has estimated that the volatility of the combined business assets, if the acquisition were to go ahead, would be 35%. The exercise price should be calculated as the present value of a discount (zero-coupon) bond with an identical yield and term to maturity of the current bond.
Required:
Prepare a report for the management of AggroChem on the valuation of the combined business following acquisition and the maximum premium payable to the shareholders of LeverChem. Your report should:
(i) Using the free cash fl ow model, estimate the market value of equity for AggroChem Co, explaining any assumptions made. (9 marks)
(ii) Explain the circumstances in which the Black-Scholes option pricing (BSOP) model could be used to assess the value of a company, including the data required for the variables used in the model. (5 marks)
(iii) Using the BSOP methodology, estimate the maximum price and premium AggroChem may pay for LeverChem. (9 marks)
(iv) Discuss the appropriateness of the method used in part (iii) above, by considering whether the BSOP model can provide a meaningful value for a company. (5 marks)
Professional marks will be awarded in question 2 for the clarity and presentation of the report. (4 marks)


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第9题
Woodrow Wilson was referring to the liberal idea of the economic market when he said that the free enterprise system is the most efficient economic system. Maximum freedom means maximum productiveness; our "openness" is to be the measure of our stability. Fascination with this ideal has made Americans defy the "Old World" categories of settled possessiveness versus unsettling deprivation, a "status quo" defended or attacked.
The United States, it was believed, had no status quo ante. Our only "station" was the turning of a stationary wheel, spinning faster and faster. We did not base our system on property but opportunity—which meant we based it not on stability but on mobility. The more things changed, that is, the more rapidly the wheel turned, the steadier we would be. The conventional picture of class politics is composed of the Haves, who want a stability to keep what they have, and the Have-Nots, who want a touch of instability and change in which to scramble for the things they have not. But Americans imagined a condition in which speculators, self-makers, runners are always using the new opportunities given by our land. These economic leaders (front-runners) would thus be mainly agents of change. The nonstarters were considered the ones who wanted stability, a strong referee to give them some position in the race, a regulative hand to calm manic speculation; an authority that can call things to a halt, begin things again from compensatorily staggered "starting lines."
"Reform" in America has been sterile because it can imagine no change except through the extension of this metaphor of a race, wider inclusion of competitors, "a piece of the action," as it were, for the disenfranchised. There is no attempt to call off the race. Since our only stability is change, America seems not to honor the quiet work that achieves social interdependence and stability. There is, in our legends, no heroism of the office clerk, no stable industrial work force of the people who actually make the system work. There is no pride in being an employee (Wilson asked for a return to the time when everyone was an employer). There has been no boasting about our social workers--they are merely signs of the system's failure, of opportunity denied or not taken, of things to be eliminated. We have no pride in our growing interdependence, in the fact that our system can serve others, that we are able to help those in need; empty boasts from the past make us ashamed of our present achievements, make us try to forget or deny them, move away from them. There is no honor but in the Wonderland race we must all run, all trying to win, none winning in the end (for there is no end).
Which of the following best expresses the author's main point?
A.The absence of a status quo ante has undermined United States economic structure.
B.The free enterprise system has been only a useless concept in the United States.
C.The myth of the American free enterprise system is seriously flawed.
D.Fascination with the ideal of "openness" has made Americans a progressive people.

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第10题
The American economic system is organized around a basically private-enterprise, market oriented economy in which consumers largely determine what shall be produced by spending their money in the marketplace for those goods and services that they want most. Private businessmen, striving to make their profits, produce these goods and services in competition with other businessmen: and the profit motive, operating under competitive pressures, largely determines how these goods and services are produced. Thus, in the American economic system it is the demand of individual consumers, coupled with the desire of businessmen to maximize profits and the desire of individuals to maximize their incomes, that together determine what shall be produced and how resources are used to produce it.
An important factor in a market-oriented economy is the mechanism by which consumer demands can be expressed and responded to by producers. In the American economy, this mechanism is provided by a price system, a process in which prices rise and fall in response to relative demands of consumers and supplies offered by seller-producers. If the product is in short supply relative to the demand, the price will be a bit up and some consumers will be eliminated from the market. If, on the other hand, producing more of a commodity results in reducing its cost, this will tend to increase the supply offered by seller-producers, which in turn will lower the price and permit more consumers to buy the product. Thus, price is the regulating mechanism in the American economic system.
The important factor in a private-oriented economy is that individuals are allowed to own productive resources (private property), and they are permitted to hire labor, gain control over natural resources, and produce goods and services for sale at a profit. In the American economy, the concept of private property embraces not only the ownership of productive resources but also certain rights, including the right to determine the price of a product or to make a free contract with another private individual.
In Line 9, Para.1, "the desire of individuals to maximize their incomes" means ______.
A.Americans are never satisfied with their incomes
B.Americans tend to overstate their incomes
C.Americans want to have their incomes increased
D.Americans want to increase the purchasing power of their incomes

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