Characteristic of the market system

Select the right ans wer of the question. Which of the following is not a characteristic of the market system? A) private property. B) freedom of enterprise. C) government ownership of the major industries. D) competition in product and resource markets.

View Complete Question

Related Questions in Microeconomics

Q : Increase in demand for Normal Goods

Zelda’s purchases of bigger and more cubic zirconium rings since she got a big pay raise are an illustration of a/an: (i) Raise in demand. (ii) Raise in quantity demanded. (iii) Raise in supply. (iv) Deterioration of the tastes.

Q : Critics of contribution standard of

Critics of contribution standard of the income distribution often: (w) cite inequality as evidence of inequity. (x) assert which private individuals must not be capable to accumulate any assets. (y) believe charitable giving should be

Q : Problem regarding analyzing persistent

In analyzing persistent shortages within the U.S. market for adoptable children: (w) children are most reasonably considered investment goods. (x) children might reasonably be functioned as consumer goods. (y) lower prices charged adopting families would result within

Q : Firms and the Transaction Costs Can

Can someone help me in finding out the right answer from the given options. The survival of all firms eventually depends on the capability to: (i) Decrease transaction costs to consumers. (ii) Produce economic gain. (iii) Maximize the value of output for given cost. (

Q : Elasticity of supply when product

Since the supply of land is fixed, then the: (w) demand for land is absolutely horizontal. (x) supply of land is completely elastic. (y) demand for land is absolutely vertical. (z) supply of land is perfectly inelastic.

Q : Markets which are relevant for human

All markets which are really relevant for human beings are exemplified by: (1) Extensive advertising, sales promotions and marketing. (2) Demands from each and every individual for all products. (3) Potential buyers willing to reimburse and potential

Q : Price inelasticity of supply The price

The price elasticity of supply is zero therefore supply is perfectly price inelastic within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

Q : Bargaining situation of Asymmetric

Whenever two parties encompass unequal levels of knowledge regarding issues in the bargaining situation: (i) Potential abuses of the asymmetric information exist. (ii) The payoff matrix is invariably asymmetric. (iii) The more knowledgeable negotiator will profit from

Q : Reason of Financial Intermediation The

The fundamental reason for financial intermediary’s presence is to: (1) Facilitate beginning new business firms by employing internal financing. (2) Help business organizations comply with laws needing the financial intermediation. (3) Minimize

Q : When is total revenue maximized If a

If a monopolist’s marginal revenue is zero, then: (1) total revenue is zero. (2) demand is perfectly inelastic. (3) the price of the product exceeds average cost. (4) economic profit is zero. (5) total revenue is maximized.

Discover Q & A

Leading Solution Library

Avail More Than 1450947 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1932608
Asked

3,689

Active Tutors

1450947

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment