Which of the Following Is Not a Typical Characteristic of a Market

question 208

Multiple Choice

Which of the following is not a typical characteristic of a market system?

• A) private property
• B) freedom of enterprise
• C) government ownership of most property resources
• D) competition in product and resource markets

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Definitions:

Production Of Good

The process of creating or manufacturing merchandise that satisfies consumer demands.

Good A And B

Two hypothetical or specified products used in economic models to illustrate various economic principles.

Constant Opportunity Cost

A theoretical concept where the opportunity cost of producing a good remains constant as more of the good is produced.

Decrease In Unemployment

A reduction in the number of unemployed individuals in the workforce, often indicating economic growth.