Which of the following is not a typical characteristic of a market system?
A)freedom of choice
B)competition in product and resource markets
C)consumer sovereignty
D)lack of incentives to produce new products
E)profit as a success indicator

Question

Quizplus · Accepted Answer

Lack of incentives to produce new products is not a characteristic of a market system. In contrast, market systems typically encourage innovation and the development of new products through the profit motive and competitive pressures.

Which of the Following Is Not a Typical Characteristic of a Market