After studying the various economic systems, it is clear that:
A) the U.S. has a pure market economy.
B) an economy based on collective decision making needs markets to function.
C) the economies of the world can be differentiated from one another by how they mix individual and collective decision making.
D) all of the above.
Correct Answer:
Verified
Q144: Circular flow model. Q145: Which of the following statements is FALSE? Q146: A lack of incentives to protect the Q147: Free enterprise exists where: Q148: The economic system where private individuals own Q150: Since the mid-1990s, the economies of Eastern Q151: The economic system, important in Britain in Q152: Which of the following statements about the Q153: The economic programs and legislative reforms developed Q154: Use the following figure.
A)
A) limits are set
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