Private Property and Freedom of Choice in a Market System

question 148

Multiple Choice

Private property and freedom of choice in a market system have the following implications, except

• A)individuals are free to take on the financial risks involved in a business.
• B)trades that take place in the economy are mutually agreeable transactions among individuals.
• C)economic agents are allowed to act in their own self-interest.
• D)large firms are allowed to coerce other firms and individuals.Difficulty: 01 Easy

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Definitions:

Variability

In statistics and research, the degree to which data points in a dataset differ from the mean of the data set.

Own Characteristics

Refers to the unique attributes or qualities that distinguish an individual from others.

Happiness

A state of well-being and contentment characterized by positive emotions and fulfillment.

Trait

A characteristic or quality that can be used to describe consistent behaviors in an individual's personality.