Which Statement Best Describes a Capitalist Economy

question 12

Multiple Choice

Which statement best describes a capitalist economy?

• A) Society determines production and the allocation of goods and services only through markets.
• B) Government policies determine the production and the allocation of goods and services.
• C) Government policies determine the production,but not the allocation,of goods and services.
• D) The role of individual self-interest is relatively unimportant because government makes most economic decisions.

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Definitions:

Commercial Space

Commercial Space generally refers to buildings or land intended for use in commerce or business activities, such as retail stores, offices, or factories.

Fifth Amendment

Refers to a part of the U.S. Constitution that protects individuals against self-incrimination, ensures due process of law, and provides protections against double jeopardy among other rights.

Caveat Emptor

A Latin term meaning "let the buyer beware," indicating that the buyer is responsible for checking the quality and suitability of goods before a purchase is made.

Let the Buyer Beware

A traditional caveat in commerce, indicating that the buyer assumes the risk regarding the quality and condition of the product being sold.