In a Free Market System

question 49

Multiple Choice

In a free market system

• A) There is no government involvement in the economy
• B) Resources are allocated on a first-come first-served basis
• C) Buyers and sellers make all of the economic decisions
• D) Government mostly allows markets to operate with little intervention or regulation

---

Definitions:

Transfer Warranty

A guarantee in legal documents, especially in sales of goods, assuring the recipient that the transferor has valid title and that the transfer is rightful.

Presentment Warranty

Assurance given in a transaction that certain facts are true as of the time of the deal, generally related to financial instruments.

Draft

A preliminary version of a document, plan, or design that is open for discussion, revision, or improvement.

Forged

Refers to the illegal creation, alteration, or imitation of documents, signatures, or objects with the intent to deceive.