In a feudalist society, in comparison with mercantilism:
A) merchants play a more important political role than serfs.
B) tradition plays a more important role than the government.
C) government plays a large role in determining the what, how, and for whom decisions.
D) markets make the central economic decisions.
Correct Answer:
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Q20: Households supply factors of production to businesses
Q21: Capitalism and socialism have not existed forever.
Q22: In contrast to the capitalism of the
Q23: Which of the following is not one
Q24: Most economies today are:
A) pure market economies.
B)
Q26: The Industrial Revolution was important to the
Q27: In principle, socialism is:
A) less concerned about
Q28: Capitalism:
A) is based on private property and
Q29: Suppose that at the current price, waffle
Q30: In the mercantilist system:
A) markets, rather than
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