Which of the following is a characteristic of capitalism?
a. Government ownership of all capital.
b. Government decision-making is preferred to decentralized decision-making.
c. Market determination of prices and quantity.
d. Equality of income.
c
Economics
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Suppose firms in a perfectly competitive market are incurring an economic loss. As firms exit, the price ________ and the economic loss of the surviving firms ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases
Economics
Consumer spending is an injection in the circular flow of income and spending
a. True b. False Indicate whether the statement is true or false
Economics