Which of the Following Is Important in the Development of a Large

question 16

Multiple Choice

Which of the following is important in the development of a large economy dominated by trade between parties who do not know each other (depersonalized exchange) ?

• A)having few or minimal constitutional rules to avoid preventing the democratic institutions of a country from working to their fullest potential
• B)having a sound legal system that protects property and enforces contracts
• C)the presence of abundant natural resources
• D)heavy government regulation and control of prices so that individuals do not try to take advantage of one another in market exchange

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Definitions:

Merchandise

Goods or products that are bought and sold in the course of business.

Production Plant

A facility where raw materials are transformed into finished goods through various processes and machinery.

Free Internet Service

Internet access provided at no cost to the user, often with certain limitations or supported by advertisements.

Credit Card Number

A unique sequence of numbers assigned to a credit card that identifies the issuer and the cardholder account.