Which is characteristic of the market system?
A) Unselfish individuals
B) Centralized decision making
C) Free enterprise and choice
D) Government ownership of the means of production

Question

Quizplus · Accepted Answer

Free enterprise and choice are key characteristics of the market system. In a market economy, individuals and businesses are free to produce and exchange goods and services as they choose, without interference from the government or other central authority. This leads to competition, which helps drive innovation and efficiency, and allows consumers to choose the products and services that best meet their needs. The market system also rewards those who are successful, which motivates individuals and businesses to work hard, take risks, and innovate.

Which Is Characteristic of the Market System