Private Ownership and Competitive Markets Are Important for Economic Growth

question 123

Multiple Choice

Private ownership and competitive markets are important for economic growth because they provide individuals with a strong incentive to

• A) care for resources and use them beneficially.
• B) innovate and introduce new products that are highly valued relative to their cost.
• C) produce goods efficiently.
• D) all of the above are correct.

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Definitions:

Depolarization

The process in which the electrical charge of a cell membrane becomes less negative, leading to the activation of electrical activities like nerve impulses.

Reticular Activating System

A network of neurons located in the brainstem that is responsible for regulating wakefulness and sleep-wake transitions.

Limbic System

A complex system of nerves and networks in the brain, involved in instinct and mood control and the basic emotions (fear, pleasure, anger).

Pleasure

A subjective feeling of enjoyment or satisfaction derived from sensory or emotional experiences.