The "Formal Defence" of Free Markets Includes the Argument That

question 111

Multiple Choice

The "formal defence" of free markets includes the argument that competitive markets

• A)lead to allocative efficiency.
• B)provide automatic coordination of the actions of decentralized decision makers.
• C)provide a stimulus to innovation and economic growth because of the pursuit of profits.
• D)permit a decentralization of economic power.
• E)lead to political freedom.

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Definitions:

Tigris River

One of the two major rivers in Southwest Asia, flowing through Turkey and Iraq, and known for its historical significance in ancient Mesopotamian civilizations.

Assyrians

An ancient Mesopotamian civilization known for its powerful empire, architectural innovations, and contributions to art and writing, flourishing mainly between the 25th and 7th centuries BCE.

Lamassu

Assyrian protective deity, often depicted as a creature with a human's head, a body of a bull or a lion, and bird's wings.

Profile View

An artistic representation showing the side view of an object, person, or scene.