Which of the following statements describing a market economy is FALSE?
A) Households only buy and businesses only sell.
B) Price is the language through which buyers and sellers communicate.
C) The basic economic decisions are made by households and businesses.
D) Households and businesses interact in markets to make economic decisions.
Correct Answer:
Verified
Q13: An economy that relies largely on custom
Q14: The economic systems of people such as
Q15: You would expect a society with a
Q16: Which of the following statements about traditional
Q17: Up for Debate, "Is Western-Style Development Appropriate
Q19: In a market economy the three basic
Q20: In a market economy, the willingness and
Q21: A "price system"is most closely associated with:
A)
Q22: For a pure market economy to work:
A)
Q23: Private property rights:
A) are one of the
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