In order for markets to work well, a country needs
A) well-established laws and ways to enforce them
B) a government that is experienced in central planning
C) citizens that are willing to sacrifice economic freedoms and choice
D) international trade restrictions that protect domestic firms from competition

Question

Quizplus · Accepted Answer

Well-established laws and ways to enforce them are crucial for markets to function effectively because they provide a predictable legal framework that protects property rights, enforces contracts, and ensures fair competition.

In Order for Markets to Work Well, a Country Needs