Private property and freedom of choice in a market system have the following implications, except
A) individuals are free to take on the financial risks involved in a business.
B) trades that take place in the economy are mutually agreeable transactions among individuals.
C) economic agents are allowed to act in their own self-interest.
D) large firms are allowed to coerce other firms and individuals.

Question

Quizplus · Accepted Answer

The statement "large firms are allowed to coerce other firms and individuals" is an implication that does not follow from private property and freedom of choice in a market system. In fact, market systems typically rely on competition and the absence of coercion to ensure fair and efficient transactions. Coercion by large firms would be considered anti-competitive behavior and would likely be regulated or punished by government authorities.

Private Property and Freedom of Choice in a Market System