In a market capitalist economy:
A) markets are not competitive.
B) individual ownership and decision making are relied upon.
C) consumers have few choices.
D) the government owns the factors of production.
Ans: B) individual ownership and decision making are relied upon.
Economics
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One person's use of common resources does not reduce the enjoyment other people receive from the resource
a. True b. False Indicate whether the statement is true or false
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Which of the following will cause equilibrium output in a market to increase?
a. A decrease in firms’ variable costs. b. An outward shift of the demand curve. c. Entry of more firms into the market. d. All of the above.
Economics