In a Free Market, Who Determines How Much of a Good

question 165

Multiple Choice

In a free market, who determines how much of a good will be sold and the price at which it is sold?

• A) suppliers
• B) demanders
• C) the government
• D) suppliers and demanders together

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Definitions:

American Trade

Refers to the commerce and trade activities conducted by the United States with other countries, encompassing exports and imports of goods and services.

Supreme Court

The highest federal court in the United States, consisting of nine Justices and having ultimate appellate jurisdiction over all U.S. courts and the authority to interpret the Constitution.

Jackson

Refers to Andrew Jackson, the seventh President of the United States, known for his populist policies and significant actions such as the Indian Removal Act.

Erie Canal

A historic canal in New York, opened in 1825, playing a crucial role in the westward expansion and economic growth of the United States by linking the Great Lakes with the Atlantic Ocean.