In Both Capitalist and Mixed Economies,the Answer to "For Whom

question 107

Multiple Choice

In both capitalist and mixed economies,the answer to "for whom" to produce goods and service

• A)involves only positive statements.
• B)does not depend on the ownership of resources.
• C)is made by government decision-makers.
• D)is based on the distribution of incomes and wealth among households.

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Definitions:

Mean

The arithmetic average of a set of numbers, found by dividing the sum of these numbers by the count of the numbers in the set.

Function

A relationship between a set of inputs and a set of permissible outputs, where each input is related to exactly one output.

Probability

The measure of the likelihood that an event will occur.

Function

A mathematical relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output.