The main characteristics of a modern market system include all of the following except
A) entrepreneurs are free to obtain and use resources to produce goods and services.
B) consumers are free to buy goods and services that their budgets allow.
C) economic power is diffused by competition among economic units.
D) government is restricted to national defense and does not intervene at all in various markets.

Question

Quizplus · Accepted Answer

The statement "government is restricted to national defense and does not intervene at all in various markets" is not a characteristic of a modern market system. In reality, governments often intervene in markets in various ways, such as by setting regulations or providing subsidies.

The Main Characteristics of a Modern Market System Include All