Which of the following is NOT a characteristic of markets?

Question

Quizplus · Accepted Answer

Government policies can have a significant impact on the decisions made by firms and households, so option B is not a characteristic of markets. In fact, sometimes government intervention is necessary to correct market failures or promote certain outcomes that are deemed socially beneficial. In a market economy, firms decide what to produce and whom to hire, while households decide what to buy with their incomes and which firms to work for. Firms and households are guided by profit and self-interest, which are the driving forces of the market system.

Which of the Following Is NOT a Characteristic of Markets