An Important Prerequisite for the Price System to Work Is

question 134

Short Answer

An important prerequisite for the price system to work is an economy-wide respect for _______ rights.

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Definitions:

Combinations

A method of counting that determines the number of possible arrangements in a collection without regard to the order of the elements.

Experimental Outcomes

Possible results or occurrences that can happen in an experiment, each outcome having a certain probability of occurring.

Objects

Entities, real or abstract, about which data can be collected and analyzed in various contexts, including programming, mathematics, and everyday situations.

Mutually Exclusive Events

Events that have no sample points in common; that is, A ∩ B is empty and P(A ∩ B) = 0.