The Main Functions of Markets Include

question 41

Multiple Choice

The main functions of markets include

• A)promoting the social interest,but not the self-interest.
• B)selling goods,but not factors of production.
• C)enabling buyers and sellers to get information about each other.
• D)establishing a physical location for business transactions.
• E)promoting the self-interest,but not the social interest.

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Definitions:

Ownership Rights

Legal rights that convey the ability to possess, use, and dispose of property, intellectual property, or other assets.

Statute Of Frauds

A legal principle that requires certain contracts to be in writing and signed by the party to be charged, to be enforceable.

Partnership Agreement

A legal document that outlines the rights, responsibilities, and shares of profits and losses among partners in a business.

Secretary Of State

A high-ranking official in the government responsible for the foreign affairs in the federal government or various administrative duties within the state government.