The freedom of individuals to start and operate private business in search of profits is known as
A. laissez-faire.
B. centralized decision making.
C. consumer sovereignty.
D. free enterprise.
Answer: D
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Given a fixed upsloping AS curve, a rightward shift of the AD curve will ________.
A. increase both the price level and real output B. cause cost-push inflation C. increase the price level but not real output D. increase real output but not the price level
The risk that the party on the other side of a financial transaction fails to meet its obligation is called
A) credit risk. B) currency risk. C) counterparty risk. D) leverage.
A competitive equilibrium is described by
A) a price only. B) a quantity only. C) the excess supply minus the excess demand. D) a price and a quantity.
Homelessness can be caused by destroying cheap, low-quality housing through _____
a. building codes b. zoning c. urban renewal programs d. all of the above