Which of the Following Statements Is NOT True of a Market

question 12

Multiple Choice

Which of the following statements is NOT true of a market economy?

• A)The pricing of goods is determined by what sellers wish to charge and buyers wish to pay.
• B)The system encourages private ownership of resources.
• C)The individual makes his or her own economic decisions.
• D)The government may supply some goods or services

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Definitions:

Asian Americans

Refers to Americans of Asian descent, including individuals from East Asia, Southeast Asia, and South Asia.

European Americans

People living in the United States who are of European descent or ancestry.

African Americans

A racial or ethnic group in the United States characterized by an ancestry from any of the black racial groups of Africa.

Social Inequality

Unequal chances and benefits are present for diverse social positions or statuses in a group or society.