In a modern mixed economy the government ensures that key institutions are in place to facilitate voluntary transactions between economic agents.These key institutions are
A)labour and capital markets.
B)the House of Commons and the Senate.
C)the Department of Finance and the Bank of Canada.
D)securities regulators and the court system.
E)private property and freedom of contract.

Question

Quizplus · Accepted Answer

Private property and freedom of contract are essential institutions in a modern mixed economy as they provide the basis for individuals and firms to engage in voluntary economic transactions. Labour and capital markets, the House of Commons and the Senate, the Department of Finance and the Bank of Canada, and securities regulators and the court system may also be important institutions, but they are not as fundamental as private property and freedom of contract.

In a Modern Mixed Economy the Government Ensures That Key