Tuesday, October 22, 2013

Profit Motive - Agent Of Continuous Economic Progress.

In the unhampered free market we have individuals, demand and supply, prices, production, and profit and loss all working beautifully to allocate limited resources to meet the unlimited wants as best as possible. Ultimately then, it is the profit motive of the profit seeker that acts upon the market process, stimulating production to increasingly meet the needs of the consumer. Therefore it can be said that the profit motive serves as an agent of continuous economic progress.

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