Does a market economy force entrepreneurs by Dr. Robert Murphy @Mises

Question 82 / 96: Does a market economy force entrepreneurs to do whatever makes the most profit?

Answer:

No, in a market economy the owner determines the fate of a

particular unit of resources (including labor services). No matter

how high the price of cigarettes, a farmer doesn't have to

plant tobacco if he doesn't want to. But market prices do allow

resource owners to make informed decisions. They get a sense

of how much other people want to encourage them to use their resources in a particular way.

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https://www.jobilize.com/capitalism-the-market-economy-by-dr-robert-murphy-mises

Capitalism: The Market Economy

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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