In a capitalist economy,
A) The state controls the means of production
B) The means of production are mostly owned by private individuals
C) Economic decisions are centralized
D) Government officials decide what to produce, how to produce it and who gets it
Correct Answer:
Verified
Q3: A society's institutions
A) Include the laws and
Q4: Economists think of products as being in
Q5: assume that people are motivated by
A) Human
Q6: Microeconomics
A) Studies individual decision making
B) Studies aggregate
Q7: Which of the following is NOT an
Q9: A _ is an enforceable claim on
Q10: In a free market system
A) There is
Q11: In a communist economy,
A) The state controls
Q12: To an economist,a market refers to
A) A
Q13: The rate at which someone can swap
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