An Economic System Dominated by the Supply-Demand-Price Mechanism Called the "Market

question 17

Multiple Choice

An economic system dominated by the supply-demand-price mechanism called the "market" is

• A) capitalism.
• B) communism.
• C) market exchange.
• D) redistribution.

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Definitions:

Factory System

An organizational method for manufacturing that involves workers and machinery in one location to produce goods on a large scale.

Guaranteed Profit

A commitment or assurance, often not feasible, that an investment will yield a positive return.

Reduced Competition

A market condition where there are fewer rivals competing for customers, often leading to increased prices and reduced innovation.