What Is NOT a Characteristic of Markets

question 21

Multiple Choice

What is NOT a characteristic of markets?

• A) Firms decide whom to hire and what to produce.
• B) Government policies do not affect the decisions of firms and households.
• C) Households decide which firms to work for and what to buy with their incomes.
• D) Firms and households guide the decisions based on profit and self-interest.

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Definitions:

Episodic Memory

The type of declarative memory that records events as they have been subjectively experienced.

Chunking

A memory technique that involves grouping individual pieces of information into larger units to improve recall.

Rote Rehearsal

A memorization technique based on repetition, where information is repeatedly gone over in the same form to be remembered.

Cueing

The process of signaling or prompting that takes place to guide behavior, attention, or processing towards a specific target or direction.