An Economic System _____

question 74

Multiple Choice

An economic system _____

• A) must choose socialism to adequately answer the three basic economic questions.
• B) is one that does not depend on an established legal system.
• C) must choose pure capitalism to adequately answer the three basic economic questions.
• D) is a set of social institutions and mechanisms organized to answer society's three primary economic questions.
• E) can address the problem of scarcity only by embracing the social institution of private property.

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Definitions:

Target Return

A pricing strategy where the price is set based on a desired return on investment or profit margin.

Target Return-on-investment Pricing

A pricing strategy aiming to set prices based on the expected return on investment (ROI) that is targeted by the company.

Annual Target ROI

The specific return on investment a company aims to achieve within one fiscal year.

Target Return-on-investment Pricing

A pricing method aimed at achieving a specific return on investment by setting prices based on the required rate of return.