Which of the following characteristics is least unique to a market system?
A) Private ownership of property resources.
B) Competition among buyers and sellers pursuing monetary returns.
C) The widespread use of money.
D) Freedom of enterprise and choice.

Question

Quizplus · Accepted Answer

The widespread use of money is not unique to a market system as many economies, including command economies, also use money as a means of exchange. Private ownership of property resources, competition among buyers and sellers, and freedom of enterprise and choice are all key characteristics unique to a market system.

Which of the Following Characteristics Is Least Unique to a Market