There Are Several Advantages That a Market Economy Possesses

question 138

Multiple Choice

There are several advantages that a market economy possesses. These do not include the fact that market economies:

• A) tend to result in high living standards.
• B) tend to encourage greater economic growth.
• C) tend to prevent entrepreneurial activity that would result in large accumulations of wealth in the hands of a few people.
• D) none of the above is true

---

Definitions:

Mode

The most common number found within a given collection of data.

Frequency Distributions

A summary of data showing the number of observations in each of several non-overlapping categories or bins.

Numerical Data

Information that is quantifiable and can be assigned numerical values, used in statistical analysis.

Positive Correlation

A relationship between two variables where an increase in one variable is associated with an increase in the other variable.