Which of the following is an essential feature of any economic system?
A) absolute advantage
B) the profit motive for producers
C) a voting procedure for choosing leaders
D) prices determine resource allocation
E) scarce resources
Correct Answer:
Verified
Q125: Figure 2-13
Total Lives Saved
Q126: In a command system,the decision about what
Q127: The U.S.system of resource ownership
A) is pure
Q128: Productivity efficiency in saving lives
A) is not
Q129: In a market economy,
A) the government primarily
Q131: An economic system includes
A) money,stocks and bonds
B)
Q132: Under a capitalist economic system,
A) the state
Q133: A society is saving lives (productively)efficiently if
A)
Q134: Under market capitalism,resources are allocated primarily through
A)
Q135: The social problem of resource allocation requires
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents