Which is a major feature of the market system?
A) Government-established prices in all markets
B) Reallocation of all resources from private to public uses
C) The right to own private property and control resource uses
D) Central planning by government to provide goods and services

Question

Quizplus · Accepted Answer

The right to own private property and control resource uses is a defining feature of the market system. This allows individuals and businesses to make their own decisions about what to produce, how to produce it, and for whom to produce it, leading to a decentralized economic system. The other options go against the principles of the market system, which emphasizes private ownership and free exchange without government intervention.

Which Is a Major Feature of the Market System