The Private Sector of the Economy Is Characterized by the Following

question 11

Multiple Choice

The private sector of the economy is characterized by the following features: (Please select all that apply.)

• A) Profit motive
• B) Central planning of production by government
• C) Competition between businesses
• D) Production of goods and services for sale

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Definitions:

Distribution of Wealth

The way in which the wealth of a country or community is divided among its citizens, often highlighting issues of economic equality or inequality.

Concentrated

Having a high density of a particular substance or element in a specific area or volume.

Equitably

In a fair and impartial manner, ensuring justice and equality in treatment, distribution of resources, or opportunities.

Upper-Class Elite

A segment of society that holds the highest social status, often due to wealth, ancestry, or political power.