Which of the following is not a part of a market system?
A)private property
B)freedom of enterprise and choice
C)competition in product and resource markets
D)government determination of basic economic goals

Question

Quizplus · Accepted Answer

Government determination of basic economic goals is not a part of a market system, as it goes against the idea of the market being driven by supply and demand and individual choices. In a market system, economic goals are set by the interaction of buyers and sellers, not by the government. Private property, freedom of enterprise and choice, and competition in product and resource markets are all essential components of a market system.

Which of the Following Is Not a Part of a Market