What Do the Minerals Gold, Sulfur, and Talc Have in Common

question 70

Multiple Choice

What do the minerals gold, sulfur, and talc have in common?

• A) They are yellow in color.
• B) They are used almost as they are when removed from the ground.
• C) They are soft in texture.
• D) They are expensive to purchase.

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Definitions:

Market System

In this economic framework, decisions related to investment, production, and distribution are governed by supply and demand forces, and the cost of goods and services is dictated by an unrestricted pricing mechanism.

Market System

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, with prices being determined by free competition among private businesses.

Economic Power

The capability of entities like countries, corporations, or individuals to influence or control market conditions, including prices, supply, and demand.

Freedom Of Enterprise

The freedom of firms to obtain economic resources, to use those resources to produce products of the firms’ own choosing, and to sell their products in markets of their choice.