In Which of the Following Ways Is the Private Market

question 96

Multiple Choice

In which of the following ways is the private market sector similar to the public sector in terms of decision making?

• A) Prices determine the demand for goods and services in each sector.
• B) There is competition for scarce resource in both sectors.
• C) Both sectors may use a type of "force" if necessary.
• D) Votes by individual voters are basically equal in importance with dollars spent by individuals on goods.

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Definitions:

First Amendment

A part of the U.S. Constitution that protects freedoms including speech, religion, press, assembly, and petition.

Protection

Measures or policies implemented to guard against harm or loss in a legal, financial, or security context.

Takings Clause

A provision in the Fifth Amendment of the U.S. Constitution that prohibits the government from taking private property for public use without just compensation.

Public Use

Refers to the government's authority to take private property for public purposes under the doctrine of eminent domain, provided there is just compensation.