In a Market Economy, the Incomes of Consumers Depend Primarily

question 173

Multiple Choice

In a market economy, the incomes of consumers depend primarily upon

• A) government policies in setting wages and interest rates.
• B) the quantity and prices of resources that they possess.
• C) the amount of savings that they have accumulated.
• D) how closely connected they are to government and business leaders.

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Definitions:

Flexibility

The quality of being adaptable or variable in order to accommodate different circumstances or needs.

Rules of Operation

refer to established procedures or guidelines that govern the functioning or conduct of an organization, system, or process.

Close Corporation

A business with a limited number of shareholders and no public shares, often operated more informally than public corporations but with legal protections.

State Statutes

Written laws enacted by a legislative body at the state level.