Which Is a Major Feature of the Market System

question 72

Multiple Choice

Which is a major feature of the market system?

• A)price floors and price ceilings in all markets
• B)reallocation of all resources from private to public uses
• C)the right to own private property and control resource use
• D)central planning by government to provide goods and services

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Definitions:

Import

The process of bringing goods or services into one country from another for the purpose of sale or use, often subject to trade policies and tariffs.

Export

Goods or services produced in one country and sold to buyers in another country.

Trade Barriers

Measures implemented by governments to restrict international trade and protect domestic industries from foreign competition.

National Security

Measures taken by a state to ensure its survival, economic stability, and protection from threats.