Which of the following is a characteristic of a market economy?
A) Private property
B) Government ownership of the means of production
C) Distribution according to need
D) Tradition determines the what, how, and for whom decisions
Correct Answer:
Verified
Q2: The L3C (low profit limited liability company)
Q3: Businesses produce goods and services and sell
Q4: A market economy:
A) requires government to set
Q5: The goal of socialist economies is to
Q6: In a market economy, society relies on
Q7: Private property rights:
A) are essential elements of
Q8: In a market economy:
A) government owns the
Q9: Governments establish the laws that regulate the
Q10: Which of the following is not a
Q11: When there are market externalities, the market
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