A free market economy is one in which ________
A) the government or other centralized group determines what to produce
B) individuals determine what to produce with some level of government involvement
C) the government controls healthcare while privately owned businesses operate in other market sectors
D) individuals and private firms make decisions based on consumer needs and wants
E) privately owned, profit-seeking enterprises are converted to government-owned production and services
D
Explanation: D) A market economy is run entirely by individuals and businesses with no government involvement. The other responses refer to planned and mixed economies.
You might also like to view...
______ order requires you to categorize your materials into those related to the causes of a problem, and those related to its effect.
Fill in the blank(s) with the appropriate word(s).
How will the apps created by IDEO help the Ford Company?
a. Ford can remain competitive by fulfilling their customers’ needs with a unique product. b. Ford can participate in the bike sharing industry c. Ford can improve the comfort of their cars d. Ford can sell safer cars
Carl, a contractor, has a contract with Ron, a realtor, to construct a new condominium complex. The contract provides that Carl must furnish a certificate of occupancy and conformity with the local fire code before Ron has an obligation to pay. The furnishing of the certificate is an implied-in-fact condition subsequent to the construction of the building
a. True b. False Indicate whether the statement is true or false
Which of the following is a form of quantitative analysis that uses causal techniques in order to identify related variables in order to make forecasts?
a. associative methods b. time series analysis c. the Delphi method d. moving average