Which of the Following Is Not a Typical Characteristic of a Market

question 149

Multiple Choice

Which of the following is not a typical characteristic of a market system?

• A)freedom of choice
• B)competition in product and resource markets
• C)consumer sovereignty
• D)lack of incentives to produce new products
• E)profit as a success indicator

---

Definitions:

Strategies

Strategies are comprehensive plans or sets of actions designed to achieve specific goals or outcomes.

Encounters

Meetings or interactions between individuals, often implying a face-to-face exchange.

Expert Power

The ability to influence others based on the possession of knowledge, skills, or expertise in a particular area, recognized and valued by others.

Organizational Hierarchy

A system of organization within a company or institution that ranks positions in order of authority or level, typically structured in a top-down manner.