Answer:
Advantages
1. Icentive Effect
2. Entrepreneurs require rewards.
3. Trickle down effect
4. Fairness
5. Capitalism
Disadvantages
1. Inequality arising from monopoly power
2. Inequality arising from monopsony power
3. Diminishing marginal utility of income
4. Social Problems
5. Unemployment
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Answers & Comments
Answer:
Advantages
1. Icentive Effect
2. Entrepreneurs require rewards.
3. Trickle down effect
4. Fairness
5. Capitalism
Disadvantages
1. Inequality arising from monopoly power
2. Inequality arising from monopsony power
3. Diminishing marginal utility of income
4. Social Problems
5. Unemployment