Business, 03.02.2020 17:58 xander252577

Which feature is characteristic of a market economy?

a) government provides basic goods.

b) self-interest motivates buyers.

c) people have less economic freedom.

d) people have no property rights

Answers: 3

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Answers

Answer from: carruthselena

The answer is B.

The 5 characteristics of a market economy are ability to own private property, freedom of economic choice, motivation by self interest, competition and limited government intervention. A sounds more socialist, as that would imply the government supplies the people with goods such as food, instead of leaving it to private enterprise.

Hope this helps.

Answer from: navleen4owjrk1

Characteristic of a market economy is self-interest motivates buyers.

Further explanation

A Market economy is an economic system regulated by supply and demand, not the government. Most of the resources, equipment, buildings, goods, and services in a market economy own by individual and private business. Most economic decisions are made by buyers and sellers, not the government.

Characteristics of market economy are:

Private ownership: Most of the resources, goods, and services are owned by individual or private sectors. Freedom of choice and free enterprise: Entrepreneurs have the freedom to get and use their resources. Consumers are free to buy goods and services to fill their need. The motive of self-interest: Entrepreneurs try to get the highest profits for their businesses. On the other hand, consumers try to get the greatest benefits from their budgets. Competition: competition ensures greater quality and lower prices for consumers . A system of markets and prices

Another type of economic system is a market economy, traditional economy, and a mixed economic system. Nowadays, many command economies began adding aspects of the market economy, we call it a mixed economic system.

Learn more

The goal of the command economy

Characteristic of a command economy

The function of the economic system

Keywords: command economy, central government, characteristic of a command economy, economic system

Answer from: Quest

They are enjoying the advantage of independence while running their own small business. they can go where they want when they want to, because they control the restaurant's hours. they can also make time for life emergencies, and set the hours to be when they do the best cooking.

Answer from: Quest

Via: "if you are found to be supplying or dealing drugs, the punishment is likely to be tough. supplying drugs doesn’t just apply to dealers. if police suspect that you intend to share drugs with your friends, this is still considered to be supplying.

being suspected of supplying drugs means you are much more likely to be charged. the amount of drugs found on you, and whether you have a criminal record, will be taken into account when a punishment is being decided.

decisions to prosecute are taken by the public prosecution service. the maximum sentences for intent to supply drugs are:

- up to life in prison or an unlimited fine (or both) for a class a drug- up to 14 years in prison or an unlimited fine (or both) for a class b or class c drug."sorry if this was a school question, you didnt supply options so i assumed it was a personal question, which if it is, reconsider selling or having possesion of any drugs at all. i wish you the best!

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Which feature is characteristic of a market economy?

a) government provides basic goods...

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