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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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