For Which of the Following Types of Economies Would the Factors

question 30

Multiple Choice

For which of the following types of economies would the factors of production depend on the relative distribution of market forces versus command forces? 

• A) Mixed economy 
• B) Pure market economy 
• C) Strict laissez faire economy 
• D) Command economy

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Definitions:

Business Purpose

Business purpose is the fundamental reason for an organization's existence, beyond just making a profit, often reflecting its values, mission, and the needs it seeks to fulfill.

Discretionary Responsibility

The expectation for businesses or individuals to take actions that are not mandated by laws or regulations, but are considered ethically correct.

Ethical Responsibility

The duty to conduct oneself and make decisions according to a code of moral principles and values.

Economic Responsibility

The obligation of an organization or individual to make decisions that positively influence the economic well-being of society and stakeholders.