What Is an Economic System Characterized by Property Rights,freedom of Choice,profits,and

question 235

Multiple Choice

What is an economic system characterized by property rights,freedom of choice,profits,and competition called?

• A)Socialism
• B)Nationalism
• C)Privatization
• D)Private enterprise
• E)Public enterprise

---

Definitions:

Break-Even Point

The level of sales at which profit is zero.

Contribution Margin Ratio

A financial metric that measures the proportion of sales revenue that exceeds variable costs and contributes to covering fixed expenses and generating profit.

Net Loss

The result when a company's total expenses exceed its total revenues during a specific period, indicating a negative profit.

Break-Even Point

The point at which total costs and total revenues are exactly equal, resulting in no net profit or loss for a business.