Which of the Following Is Not a Characteristic of Pure

question 118

Multiple Choice

Which of the following is not a characteristic of pure capitalism?

• A) Government ownership of means of production
• B) Private ownership of land
• C) Freedom of enterprise
• D) Worker freedom

Understand the role of equity concerns in economic policy arguments.

Recognize the characteristics of efficient markets.

Understand the defining characteristics of small businesses and their importance in the economy.

Identify the common reasons behind small business failures and strategies to mitigate these risks.

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Definitions:

Simple Contracts

Contracts that can be oral or written, not formalized by seal, and recognized by courts if they meet basic requirements like offer, acceptance, and consideration.

Negotiable Instruments

Written documents guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer usually not named.

Assignee

The party to whom rights or property are legally transferred through an agreement or contract.

Holder

An individual or entity that legally possesses a document, such as a check, note, bill of exchange, or share of stock.