Capitalism
What will be an ideal response?
An economic system in which productive resources are owned privately and goods and resources are allocated through market pricing
You might also like to view...
Which is not considered an “anticompetitive practice”?
A. Firms threaten to destroy competitors through innovation. B. A firm forces competitors to compete on prices. C. A firm prevents the entry of new rivals. D. Firms share intellectual property that may be helpful for research and development.
Unions have the power to
A. set all working rules. B. increase the firm’s total taxes. C. push wages above competitive levels at times. D. make a firm nationalized.
The ability of diversification to reduce risk
A) is greater the more negatively correlated the two events are. B) is greater the more positively correlated the two events are. C) is greater the more uncorrelated the two events are. D) is greater the more risk averse the individual is.
Governments may choose to intervene in a market in an attempt to:
A. discourage the consumption of certain goods. B. encourage the consumption of certain goods. C. redistribute surplus. D. All of these are true.