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.
-Which of the following is a basic assumption of an economic analysis?
A)Private property rights exist and are secure.
B)A controlled market structure is the key to economic growth.
C)In a free market, resources are owned by the government.
D)There are no private property rights under a free market economy.
E)Social well-being is the prime objective of an entrepreneur.

Question

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.
-Which of the following is a basic assumption of an economic analysis?​
A)​Private property rights exist and are secure.
B)A controlled market structure is the key to economic growth.
C)​In a free market, resources are owned by the government.
D)​There are no private property rights under a free market economy.
E)​Social well-being is the prime objective of an entrepreneur.

Quizplus · Accepted Answer

The Answer is A

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