A market system is best characterized by:
A) extensive government intervention in economic activity.
B) the private production of most capital goods.
C) government regulation of all private markets.
D) central planning and control.

Question

Quizplus · Accepted Answer

A market system is characterized by private ownership and control of resources and the means of production. In this system, most capital goods are produced by private firms rather than by the government, as is the case in a centrally planned economy. While government regulation may exist in some markets, it is not the defining feature of a market system.

A Market System Is Best Characterized By