Scenario 4-1
In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.
-In a market economy, _____ own(s) all the basic resources or factors of production.
A)households
B)the federal government
C)the Federal Reserve bank
D)the local government
E)business firms

Question

Quizplus · Accepted Answer

In a market economy, households own all the basic resources or factors of production, as they are the primary providers of labor, capital, and other resources to businesses in exchange for goods, services, and income.

Scenario 4-1 In a Given Year, Country a Exported $12 Million Worth