For a pure market economy to work:
A) buyers and sellers must be able to communicate through prices.
B) business owners must be free to make their own decisions and operate with a profit motive.
C) individuals must have private property rights to own and dispose of goods, services, and resources.
D) all of the above.
Correct Answer:
Verified
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Q18: Which of the following statements describing a
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)
Q23: Private property rights:
A) are one of the
Q24: Free enterprise refers to the right of:
A)
Q25: An economic system with free enterprise, private
Q26: Capitalism is an economic system where:
A) there
Q27: The basic circular flow model includes:
A) businesses,
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