Map a Sapling Learning macmillan learning The magical country of Ivalice is know
ID: 1153821 • Letter: M
Question
Map a Sapling Learning macmillan learning The magical country of Ivalice is known for its well-equipped mercenary clans. The Queen lets the clans make their own production descions. While firms and resource suppliers seek to further their own self interest, the collective actions of the firms and resource suppliers advance the public or social interest as if uided by the "invisble hand" of the economy. People switch jobs all the time, and there are a variety of azaars selling intriguing merchandise, everything from tomes of magic to shields and swords. What kind of economy does Ivalice have? Market economy Command economy O Micro economy O Macro economy Which of the following are examples of the "invisible hand" that characterizes Ivalice's economy? Kupopo! Delivery, a transport business, routinely uses a blimp to move food supplies from the farms to the queen's castle. Save The Queen, an armorer, chooses to produce fewer swords when the price of steel increases The town of Sprohm lowers its income tax. Many peasants move to Sprohm to take advantage of the lower cost of living. To increase sales, the singing sensation Hurdy and the Bros sells its CDs for $5, $1 cheaper than another popular band, Montblonc and the KnightsExplanation / Answer
The market economy is an economic system in which any economic decision and set price of goods and services are guided by interaction among the countries individuals. The Ivalice economy is solely guided by the people of Ivalice so this is a market economy. This is not a command economy as command economy is guided by only government. Therefore the first option is correct.
The market is guided by invisible hand means there is no intervention of government. The market is corrected by adjustment of supply and demand from own. Here in the second option when the price of steel increases, production of swords decreases to restore the equilibrium. There is no government intervention. So the second option is correct.