In most sales transactions the seller effectively makes the initial offer when she names a price

A _____ is a political entity that governs the affairs of its own territory without being subjected to an outside authority.

A) county B) colony C) sovereign state D) secular province E) province

In what type of economy are all businesses state owned, the rationale being that the government can then direct them to make investments that are in the best interests of the nation as a whole rather than in the interests of private individuals?

A. Free market B. Deregulated C. Pure command D. Mixed E. Laissez-faire