Macroeconomics 15th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson

Exercise 4

"Production should be for people and not for profit." Answer the following questions concerning this statement:
a. If production is profitable, are people helped or harmed Explain.
b. Are people helped more if production results in a loss than if it leads to profit Is there a conflict between production for people and production for profit